YEREVAN. – If and when the deal on sale of Vorotan cascade is finally signed, this will be a big plus for Armenia and U.S., Ambassador John Heffern said during a farewell media conference in Yerevan.
This is a very important project for both states, and the largest US investment to Armenia which will help to diversify country's energy sector.
“I think that the deal is a very important strategic project for Armenia,” Heffern said, adding he thinks the deal will be signed.
In November 2013 Armenian public services regulatory commission confirmed the deal on selling Vorotan Hydro Cascade to Contour Global for $180 million.
However, U.S. diplomat warned the Armenian side against possible failure. Unless the deal is signed, this will become a strong signal for western investors and will show the level of Armenia's preparedness to similar large and serious deals, he added.