Peruvian fruit company Complejo Agroindustrial Beta has announced an aggressive investment plan that could make it the country's biggest grape exporter in the coming years, newspaper El Comercio reported.

General manager Lionel Arce told the newspaper the company would be investing US$20 million in around 150 hectares of grapes this year, with a similar amount expected for investment in 2014 as well.

He said Complejo currently had 600 hectares of grapes and was aiming to hit 1,000 hectares by the end of 2014, the story reported.

Arce estimated around 70% of the new plantations would be dedicated to the Red Globe variety, and the rest would be seedless.

The move is part of a strategy to distribute risk away from the company's main crop asparagus, which has 2,500 hectares, as well as avocados with 250 hectares.

The company was Peru's second-largest grape exporter in 2012 with 1.75 million boxes, behind leader Pedregal at 1.8 million boxes. The story reported Complejo was on track to taking the lead spot.

Arce added that all business was oriented towards fresh fruit and there were no plans for processing or juicing like other agri-businesses.

Complejo Agroindustrial Beta had a turnover of US$90 million last year, which is expected to rise to US$100 million in 2013. With higher volumes in store, Arce is aiming for revenue of US$200 million in four years' time.

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