OREANDA-NEWS Kizlyar Cognac Factory JSC (KKZ) invested 663 million rubles in development in 2023, which is 2.2 times more than in 2022. This was reported to Interfax by the general director of the company, Yevgeny Druzhinin.

According to him, the funds were used for re-equipment, modernization and overhaul of fixed assets, as well as for the development of vineyards.

"The Kizlyar Brandy Company is currently engaged in the implementation of two projects for the laying of its own vineyards," he noted.

The first project, according to the CEO, involves the planting of vineyards on 311 hectares in the Derbent district. As part of its implementation, 100.3 hectares of vineyards have already been laid and the site is being prepared for planting another 145.2 hectares in 2024. The second project is being implemented in the Kizlyar district, where work is underway to prepare 140 hectares for planting vineyards.

"In 2023, a record amount of grapes was purchased and processed for the plant - 55.9 thousand tons. In 2024, Kizlyar Brandy Company JSC also plans to purchase and process at least 55 thousand tons of grapes," Druzhinin added.

As reported, KKZ produced 1,032 million decaliters (dal) of products in 2023, which is 16% more than a year earlier, sales volume increased by 19% to 1,048 million dal.

The plant was founded in 1885. In 2018, FGUP Kizlyar Brandy Factory was transformed into a joint-stock company, 100% of whose shares are federally owned.