Chorrord Ishkhanutyun: Vorotan Hydro Cascade pledged in a bank

‘Chorrord Ishkhanutyun’ paper writes that the owner of Vorotan Hydro Cascade - US-based Company ContourGlobal has pledged Vorotan cascade.

“The new owner of Vorotan Cascade took that step so as to be able to pay the first half of the cascade’s price - $90 million. The paper learned that no Armenian bank was prepared to pay that sum, and a decision was made to pledge the Vorotan Hydro Cascade in three banks – HSBC, Ameriabank, and Converse Bank to borrow $30 million from each bank.