Investments in Sheki Sharab in Azerbaijan exceed €7 million

15:27 - 6.12.2023

December 6, Fineko/ Abrau-Durso’s investments in Azerbaijan-based winery Sheki Sharab exceeded €7 million.

ABC.AZ reports that Ernest Mingazov, the director of Az Abrau "Sheki Sharab" informed about this.

"As part of the investments, equipment has been improved and purchased, plots of land for vineyards have been purchased. As of today, investments in the company have exceeded €7 million," Mingazov said.

By the end of 2023, the production at the enterprise will amount to 2.5 million bottles, in 2024 it is planned to increase production to 3.5 million bottles (a rise of 40%).

Mingazov added that in 2023, 2 million bottles of various wines were exported (80% of the total production).

"The main export market today is Russia. In addition, our company also supplies wine to Belarus and Kazakhstan. We are currently negotiating the supply of our products to China and South Korea," he said.

According to him, the company also acquired land plots for vineyards in the Karabakh economic region of Azerbaijan, including in Fuzuli, where Madras and Rkatsiteli grape

varieties are grown. "Thanks to this, we were the first to receive the right to produce Aghdam port wine in Azerbaijan," Mingazov said.

Mingazov also said that the company plans to expand its product range. "In particular, next year we will launch a line of sparkling wine, we will produce cognac aged three and five years," he said.

According to him, the company currently employs about 100 people, but taking into account the increase in production, the number of employees will grow.

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