Contour Global buys Vorotan Dam

The Armenian government and Contour Global (US) signed a secret deal on purchase of the Vorotan Dam, a strategic power facility, Tert.am reports.

The US company will not make investments and will take a loan at an Armenian bank for the purchase.

The government of Armenia sold the Sevan-Razgan cascade of power plants for $32 million and invested the sum in the Vorotan Dam.