BULGARIAN-HUNGARIAN HOLDING INVESTS IN VINEYARD PROJECT

Business | January 27, 2002, Sunday // 00:00

New vineyards will be grown on an area of 1,000 hectares in the municipalities of Veliko Turnovo, Pavlikeni and Harmanli in Southern Bulgaria. The investment of BGN 15 M will be made of a Bulgarian-Hungarian holding. Almost half of the area will be planted with the white wine Chardonnay and Muscat. The remainder will be used for growing grapevines of the red wine varieties of Merlot and Cabarnet. The first stage of the project includes studying the soil and settling land ownership issues. The future winegrowing complex will be run by a holding comprising one Hungarian and three Bulgarian companies. More than 200 new jobs are expected to be created through the project in Veliko Turnovo alone.
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