BAKU, Azerbaijan, May 25. A winery enterprise will be established in Azerbaijan’s Fuzuli district, a project worth up to 21 million Azerbaijani manats, or $12.3 million, a source familiar with the matter told Trend.
The project envisages construction of a winery to produce 1.6 million conditional bottles by using existing vineyards and potential areas (356.3 hectares).
The establishment of the winery will cost 16 million manats or $9.4 million, while planting vineyards on an area of 356.3 hectares will require from 3.6 million manats to 5.3 million manats ($2.1 - $3.1 million).
Negotiations are underway to obtain an organic certificate for the vineyards (Ecocert Organic Standard) located in the village of Yukhari Veysalli.
The state support will include preferential loan, investment promotion certificate and subsidies for vineyards.
The Khojavand, Fuzuli, and Gubadli districts include 225.5 hectares of vineyards and 225 hectares of prospective areas. 100 hectares of traditional vineyards have undergone mine clearance procedures.
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