Robert Nazarian: Vorotan Hydro Cascade continues to produce electricity

Vorotan Hydro Cascade CJSC continues to produce electricity in accordance with its license, Chairman of Public Services Regulatory Commission of Armenia Robert Nazarian said in the parliament today, when responding to a question of ARFD faction deputy Artsvik Minasian.

By the Armenian law, Vorotan Hydro Cascade will continue its licensed activities until the right of its ownership is registered under the agreement signed with the American side, R. Nazarian said.

“Then the American company will file an application to obtain a license. The license of CJSC will be revoked and on the same say a new company will receive a license so the normal operation will not be interrupted,” Nazarian noted.

The commission chairman Nazarian was outraged by the speech of Artsvik Minasian who called the Vorotan Cascade sale transaction illegal, adding that under Armenia’s Criminal Code this crime is punishable by imprisonment of 8-10 years. Although Minasian said that his words don’t apply to Robert Nazarian, the latter responded to A. Mimasian in his speech.