YEREVAN. – The deal of selling the Vorotan Hydro Cascade of Armenia to the American ContourGlobal company is at the negotiation stage, US Ambassador to Armenia John Heffern told reporters on Thursday.

In response to the query as to whether Russia will attempt to have an impact on the negotiation process, the American diplomat stressed that the talks are conducted between the Armenian government and the said American company,

“We fully support the conclusion of the deal and hope that it will conclude successfully, [and] to the benefit of both parties,” Heffern stated.

The Vorotan Hydro Cascade comprises three electric power plants. The Government of Armenia was the 100-percent shareholder of the Vorotan Hydroelectric Power Plant. In November 2013, however, the Public Services Regulatory Commission of Armenia had confirmed the deal to sell the cascade to the American ContourGlobal company, which had expressed a readiness to invest $180 million.

US Ambassador John Heffern, on the other hand, had warned Armenia not to cancel this transaction. The American diplomat has repeatedly stated that a successful completion of this sale is beneficial for Armenia, too, since this will attest to the high level of the country’s investment zone.