14 May '08
The administration in Kabardino-Balkariya today approved a multi-million-dollar investment project aiming to intensive develop of horticulture in the republic, Interfax-Yug reports.
Project officials say over three years investment into the project is expected to top $102m.
The project, passed by the city's Entrepreneurship Council, envisages setting up a 13-15 hectare experimental garden, with investment expected to be $102,000 per hectare.
According to plans the garden will then gradually expanded (up to 200 hectares in 2009 and 800 hectares in 2010-2011) to eventually cover an estimated 1,000 hectares.
The payback period of the project is estimated at five years.