Manufacturers Union chief: energy prices may soar after Vorotan saleAugust 20, 2014 - 16:06 AMT PanARMENIAN.Net - The head of the Union of Local Manufacturers is opposed to the sale of Vorotan Cascade of Hydroelectric Power Plants CJSC. Vazgen Safaryan believes that Vorotan, which generates the cheapest energy resources, should be a governmental property. “With the effective work of the HPP, the sale makes no sense, but rather becomes an economic mistake that might lead to further increase in energy price,” he noted. Prosperous Armenia faction member, economist Mikael Melkumyan also expressed concern over the issue. “We’re not questioning the fact that the buyer is a deserving one, our problem is with the sale of Vorotan,” he said. Commenting on whether the sale is legal, Melkumyan stated that the transaction can be characterized as a takeover, rather than sale, and there’s no legislation on takeovers in Armenia, Tert.am said. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |