Crimea terminated an investment contract for one of the largest wine projects

The Tavrika Crimea company, affiliated with the ex-shareholder of Rossiya Bank and the Agora group, did not fulfill the terms of the investment agreement and lost the land for the construction of a new wine production in Crimea.
Origin source
The fact that the Crimean authorities terminated the investment agreement with Tavrika Crimea LLC follows from the minutes of the meeting of the council on improving the investment climate of the republic, which was held on July 18, 2019. The reason for the breakdown in relations with the investor was his failure to fulfill obligations, is indicated in the document.

In March 2016, Tavrika Krym entered into an investment agreement with the republic for 543.2 million rubles, under which it was planned to build a “plant for bottling and preserving, processing and bottling still wines and cognacs." In turn, the republic leased land for a period of 49 years. The investor, who was given a plot with a total area of ​​seven hectares for the construction of the enterprise, did not start the project, confirmed RBC spokeswoman for the Ministry of Economic Development of the Republic of Crimea Anna Abuvakarova. “The project envisaged the creation of 146 jobs, but for three years the investor did not take any action. The provided plot was not even leased, ”the representative of the department explained. Therefore, after the investor submitted a notice of termination, it was satisfied.

Tavrika Krym signed an agreement with the republican authorities at the same time as Invest Alco LLC: the latter planned to create a “modern enterprise for growing fruit and vegetable agricultural products and fresh fruits” (the declared value of the contract is 781.43 million rubles). Both companies have two common groups of shareholders - specialized and previously not announced their projects on the alcohol market. The first is the structure of the Agora distribution group of Nikolai Safronov and Mikhail Zhuravlev, a wine supplier of FSUE PJSC Massandra. The second is structures affiliated with Natalia Svitova, who until 2014 was a shareholder of Rossiya Bank. The general for the companies and the general director, follows from the SPARK data, is Olga Plenkina.

The total amount of investments declared by both companies in the wine industry of the region is 1.32 billion rubles. - at that time it was considered the largest, market participants emphasized. The area allocated for the cultivation of grapes in favor of Invest Alco, as Plenkina later said, is 1.79 thousand hectares. Such a landing area puts this project among the largest wineries in the region. For comparison: Inkerman vintage wine factory - 2.7 thousand hectares, Massandra owns 4 thousand hectares, Alef-Vinal-Crimea (brand Villa Krim) - 1.9 thousand hectares. Judging by the information provided in the minutes of the council, Invest Alco has continued the project - at the last meeting, it was entrusted with the administration of the Bakhchisarai district to carry out work on the "issue of the social burden of the project."

RBC failed to contact the representatives of Tavrika Crimea and Invest Alco.