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Unfazed By Sanctions: Italians Ready to Invest in Crimea

© Sputnik / Valeriy Shustov / Go to the mediabankThe Druzhba holiday hotel built by Soviet and Czech specialists on the southern coast of the Crimea.
The Druzhba holiday hotel built by Soviet and Czech specialists on the southern coast of the Crimea. - Sputnik International
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A group of Italian investors is now in Crimea looking for 500 hectares of land for an agro-industrial park they want to create on the Black Sea peninsula.

“We are here because Crimea is in great need for development. The climate here is similar to what they have in Tunisia, that’s why we want to grow here the very same products we cultivate in Tunisia. We want to create a 500 hectare agro-industrial park in Crimea,” Francesco Lo Iudice, a member of the Italian delegation, said after meeting with Crimean Deputy Prime Minister Ruslan Balbek on Saturday.

The investors plan to find agricultural technology companies from Italy, which are interested in building greenhouses, in vine-growing, cattle farming and processing of agricultural products in Crimea.

They said they were not afraid of sanctions because their produce would be sold in Russia, a much cheaper option than bringing in the same produce all the way from Tunisia.

“Trading with Russia from Crimea is way cheaper because you have neither customs clearance nor logistical hurdles to deal with,” Francesco Lo Iudice said.

A bird's eye view of the Tuzla Island where construction of a bridge across the Kerch Strait takes place. March 18, 2016. - Sputnik International
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Ruslan Balbek assured that the regional authorities would help the Italians find the best land plot to get the project off the ground.

“The investors will have direct contact with the top Crimean officials to avoid red tape and feel comfortable,” the Crimean deputy prime minister said.

During their five-day stay on the peninsula, the Italians will visit local wineries and farms and will sign a memorandum on cooperation with the Crimean government.

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