Russia’s Minister of Economic Development Maxim Reshetnikov and the Head of the Republic of Dagestan Sergei Melikov discussed the issues related to the construction of the Caspian coastal cluster at the meeting on the development of regional economy. The meeting took place in Derbentski municipal district of Dagestan.

The Caspian coastal cluster project will cover the territories of several districts of the republic, including Derbent, Karabudakhkent, Kayakent and Magaramkent.  The project envsages the development of a resort on more than 200 hectares of sandy beach.

The Russian Ministry of Economic Development had already selected a contractor to develop design and costing documentation, while Dagestani Ministry of Tourism is finalizing the assessment of regulatory documents.

As part of his working visit to Dagestan, Maxim Reshetnikov visited the Kizlyar cognac factory. The enterprise signed an agreement with the Ministry of Economic Development of Russia on the development of viticulture and wine-making for the period 2024-2026, including the receipt and use of tax deductions for the modernization of production.

The Kizlyarsky Cognac Factory plans to increase the volume of grape purchase and processing for 2023 and 2024. The total production capacity of the factory is 1.1 million tons per year.

Last year, about 663 million RUB were spent on modernization of the distillery, including the development of vineyards. In 2024 it is planned to allocate another 669 million RUB for investment activities. The Kizlyar Cognac Factory also receives a tax deduction on excise duties for products made of grapes, which are used to develop and modernize production.