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ARIC GROUP To Stop Investing in Georgia

Aric Group stops investment operations in Georgia, representatives of company and farm Vinichio Valley made mentioned decision.

“ARIC Group” is an investment company established with foreign capital. The company has been implementing investment projects in Georgia since 2012 in the fields of agriculture, food industry, eco-tourism and construction. According to Apsal Ravi, company has already invested USD 33 million in Georgia.

Today, the largest project of the company is development of “Vinichio Valley” in the Sagarejo region of Kakheti. The project will produce industrial scale pistachio, wine and stone fruit. “Aric Group” has invested 20 million dollars in a scientific research to create a new species of pistachio, tailored for the local climate. After four years of intensive work the unique species of pistachio created, ideally corresponds to the land and climate conditions in the region. In total, 1,000 hectares of pistachio, 400 hectares of vineyard and 400 hectares of fruit gardens will be cultivated within the frame of the current project.

Company will announce its decision next week.