This week the 777 Wine and Brandy Factory will be launched in Novosibirks, Regnum quoted the Director-General of Vitta Company Tatyana Budennaya as saying.

The 777 will be a joint venture of Uzbek Tashkentvino and Russian Vitta (division of Sibirsky Balzam Association).

Tashkentvino will have a 51% stake in 777, and Vitta 25%. The production will run on territory contributed by Vitta.

The enterprise plans to produce 600,000 bottles of inexpensive wine, port wine and brandy monthly.

The raw wine material will be supplied by Tashkentvino from Uzbekistan.

The product will be sold through Vitta’s traditional sales network, covering Siberia, Russian Far East, Orenburg and Kursk.

Experts estimate the project at US$2 million.

The capacity of the Tashkentvino Kombinat Company makes up about 1.5 million decaliters of liquor products and 2.5 million deciliters of wine yearly.

In 2005, the company’s revenue made up 8.725 billion soums (US$7.4 million), and net profits 243.8 million soums (US$206,610).

The Vitta Vodka Factory is owned by an entrepreneur in Novosibirks, Sergey Pronichev.

In 2005, the company’s share of the Novosibirsk market made up 5.6%, according to Biznes Analitika