The agreements were signed by RFC CEO Fedor Kirsanov and Ilya Shestakov, Deputy Minister of Agriculture and head of the Fedeal Agency for Fisheries. Image: RFC

During the recent Eastern Economic Forum, the Russian Fishery Company (RFC) and Russia’s Federal Agency for Fishery (Rosrybolovstvo) signed an agreement securing the company a share of quotas for the construction of four vessels and an onshore fish processing plant.

Under the agreements, RFC will build four fishing vessels and groundfish processing plant Russian Haddock in partnership with the Agama Group of Companies.

‘The mechanism of the investment quota programme has become an effective incentive for industry development,’ commented RFC CEO Fedor Kirsanov.

‘We are already seeing the first real results. At the end of August this year RFC launched the first Russian Cod coastal plant in Murmansk. Next year, the first super trawlers that RFC is building under the first round of the investment quota programme will be launched. In general, the company will build the longest series of ships of this type in Russia and the industry will have at its disposal the most modern fleet in the world today.’

New vessels will be built at the Admiralty Shipyard in St. Petersburg where a series of six vessels for RFC is under construction.

Each of the vessels is designed to catch and process more than 50,000 tonnes of fish annually. The construction of a cod and haddock processing plant with a design capacity of at least 25 tonnes of products per day was launched in Murmansk in August this year.

Together with the previously launched projects, under state investment quotas programme, RFC will build ten super trawlers and three coastal factories.

Putting this investment into operation will significantly increase the volume of quotas RFC holds for pollock and herring.