Armenia's Government approved new contract on Vorotan deal

Armenia's Government has made some changes and amendments in the decision of November 21, 2013 “On Approval of Contract of “Vorotan Hydropower Complex” CJSC estate sale and purchase”. The Government approved the substantially revised contract of “Vorotan Hydropower Complex” CJSC estate sale and purchase, aimed to settle the reformed and more balanced legal relations between the sides. Also, the Government approved the agreements of provision and transfer of the property rights, which belongs to the Republic of Armenia.

As “Armenpress” reports, by the new decision, the authority is given to the Minister of Energy and Natural Resources, to sign the aforesaid agreements and all the documents and additional agreements related to them in the name of the Government of the Republic of Armenia.