Is the Government Liquidating the Vorotan HPP?

Following the instruction of Prime Minister Nikol Pashinyan and the signature of former Defense Minister Vagharshak Harutyunyan, after half of Vorotan was ceded to Azerbaijan, the Armenian Government has decided to liquidate the "Vorotan Hydroelectric Power Plants Complex" closed joint-stock company, reports 168.am.

"After the liquidation of the company, the available financial resources will not be directed to the state budget but to the Reserve Fund of the Government of the Republic of Armenia. It should be noted that the Vorotan HPP has a receivable debt totaling 14,343,381.2 thousand drams, of which 6,071,521.0 thousand drams is the receivable debt of 'Nairit-2' LLC, 8,093,488.7 thousand drams is the receivable debt of 'Yerevan Thermal Power Plant' LLC, 46,938.3 thousand drams is the obligation of 'Her-Her HPP' LLC, and 131,433.2 thousand drams is the obligation to the state budget.

The financial resources of the company amounted to 2,805,547.9 thousand drams, of which 1,051,280.0 thousand drams are deposited in 'Armswissbank' CJSC at 1,440,000 USD, and 'Haybusinessbank' CJSC at 350,000.0 thousand drams. According to the Government's decision, the deposited funds have been transferred to the state budget," the source writes.