What Have We Left Behind in the Lost Territories? Investments Made in Artsakh

We had 38 hydroelectric power stations (HEPS) in Artsakh, which fully provided energy independence for Artsakh and supplied electricity to Armenia during certain seasons. Out of the 38 HEPS, only 10 remain, meaning 28 have been surrendered. Each HEPS is worth approximately 7-8 million dollars, and we have lost around 150 million dollars solely in terms of HEPS investments,” businessman Harutyun Mnatsakanyan told 168 TV's "Review" program. He was one of the first to respond to Prime Minister Nikol Pashinyan's statement questioning what investments had been made in the territories lost.

Mnatsakanyan also referred to other investments made in Artsakh. “How many large hotels do you know in the city of Shushi? 'Shushi-Avan Plaza,' 'Shushi Plaza,' 'Shushi Grand Hotel,' various small guesthouses, restaurants, etc. Let us consider the fish farm in Talish, where black fish fry were produced, which was exported to Europe. Considerable expenses were involved. A wine factory was created from scratch in the Great Tagher community, complete with its vineyards, and its approximate value was 30-40 million dollars. Last year, they were supposed to produce wine for the first time, and they had harvested grapes, bringing in specialists from Germany,” he stated.

Mnatsakanyan also recalled the “Kataro” wine factory and investments made in the Kashatagh region. “Houses were built to encourage rural settlement. 24 million dollars was spent solely on road construction. Remember how many restaurants were left to Azerbaijan on the way to Karvachar, gas stations, convenience stores, and one of the most important— the vocational school named after Yeznik Mozyan in Shushi, which was a high-quality institution even compared to those in Armenia,” he emphasized.

The businessman raised a question about the investments attracted to Artsakh during the last three years under Pashinyan’s government. “If Nikol Pashinyan believes that this was not an investment, I cannot imagine what his investments have been during these 3-4 years. I have not seen any investments from him in Artsakh. Before the war, there was talk about establishing approximately 1,000 hectares of pomegranate orchards, but that had nothing to do with Nikol Pashinyan’s involvement,” Mnatsakanyan noted.