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 | Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. Baku: EU, U.S. share responsibility for Armenia’s “destabilizing actions” Azerbaijan has declared that the European Union and the United States will share responsibility for any destabilizing actions of Armenia Armenia to sing in 2nd semi-final of Eurovision The organizers of Eurovision 2024 have revealed the running order of the countries in the two semi-finals. Azerbaijan accuses Armenia of arming Karabakh after 2020 Azerbaijan has accused Armenia of “illegally transported ammunition” to Nagorno-Karabakh after the November 9 statement. |