Agricultural Investments

April 9, 12:49 Source: APK-Inform Views: 75

Russia Set to Invest US$1 Billion in Crimean Wine

The Russian government is set to approve the investment of up to US$1 billion into the development of the wine industry in the annexed Crimean Peninsula and Caucasian region at an upcoming meeting.  Crimea’s vineyards total 31,000 hectares and the region has perfect growing conditions for wine grapes according to Russia’s Prime Minister Dmitry Medvedev.  The Russian government is currently working to integrate Crimea’s agriculture and winemaking industries into its state-supported schemes and development programs which run until 2020.  The government also plans to establish 19,100 hectares of new vineyards with the goal of increasing Crimea’s wine grape output by 53% by 2017.




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