YEREVAN. – An amended agreement for ContourGlobal to purchase the Vorotan Hydro Cascade was signed at the Armenian government on Monday.

The agreement was signed by Armenia’s Energy Minister Yervand Zakharyan, Joseph C. Brandt, ContourGlobal’s President and Chief Executive Officer, representative of ContourGlobal Hydrocascade and ContourGlobal Terra Holdings and Director General of Vorotan Hydro Cascade Sasun Khachatryan.

Prior to the signing ceremony, Armenian PM Hovik Abrahamyan received Joseph C. Brandt, Contour Global CEO. Armenian PM welcomed signing of a deal as an important move for the strengthening of bilateral economic relations. In this context head of Armenia’s Cabinet welcomed signing of U.S.-Armenia Trade and Investment Framework Agreement (TIFA) that will create favorable conditions for investments and trade turnover between the countries.

Mr. Brandt described as unprecedented signing of the agreement and underscored company’s interest in making investments into modernization and operation of the hydro cascade.