Concha y Toro is looking to continue its vineyard acquisition programme in 2008, according to reports.

The Chilean wine producer has lined up around US$60m to invest in acquiring and developing vineyards in the country, with a view to increasing its capacity. The news comes on the back of a $64m spend by Concha y Toro last year on vineyard purchases.

Speaking to journalists in Santiago yesterday (24 April), company president Alfonso Larrain said: "The board has approved an investment of about $60m for 2008 for new lands, new microclimates and to continue improving the company's technology."

Concha y Toro will issue its first quarter results early next week.