ArmInfo. The United States is investing over $1 billion in Armenia, RA Minister of Economy Gevork Papoyan told reporters on February 9.
According to him, the American company Contour Global Hydro Cascade is investing $120 million in the modernization of the Vorotan hydroelectric cascade, another $200 million is expected as part of the TRIPP project, and over $500 million will be invested in the development of the Amulsar deposit. "Add nuclear energy to this, and you get a more than significant figure, exceeding $1 billion, which is unprecedented in the history of Armenia," Papoyan said, pointing to opportunities for attracting new American investment. It is possible that new projects will be announced following US Vice President G.D. Vance's visit to Armenia.
Papoyan also noted that the new tariffs imposed by US President Donald Trump on products from countries trading with Iran would be discussed during the visit. Last year, the minister emphasized, Armenia exported $50 million worth of goods to the US. The imposition of new tariffs could lead to higher prices and a decrease in their competitiveness. "However, we have not yet received any notifications from our American partners. But we'll see, we'll continue the discussions. I can only assure you that there are far more interesting and important issues on the visit's agenda," the Minister of Economy noted.
Responding to a question about the possibility of transferring the right to build a new nuclear power unit in Armenia to the US, Papoyan noted that, according to his information, discussions on this issue are ongoing with several countries, including the US. "In any case, Armenia will choose the option that best suits its national interests," assured Gevork Papoyan.
As a reminder, Armenia plans to build a new nuclear power plant using small modular reactor (SMR) technology by 2035-2036, viewing them as a safer alternative (with respect to localized accidents). The service life of the existing Metsamor Nuclear Power Plant has been extended until 2036. The government is studying proposals from the United States, Russia, China, France, and South Korea.
