High-flying investment project to boost farmed salmon and trout production in Russia

High-flying investment project called Russian salmon to be carried out in Murmansk Oblast will boost farmed salmon and trout production to 15,000 MT per year, reports http://www.megafishnet.com/.

At present, investments into the project, which is carried out in the village of Liinahamari of Pechenga District (Murmansk Region), have already totaled ca.RUR1.88 billion. They have already built and commissioned a module factory and a fishmeal plant, and purchased cage farms, cargo catamarans and auxiliary boats. More than 5 million Atlantic salmon fry have already been bought by the farm.

Further implementation of the project needs investments of more than RUR3 billion for construction of a stationary factory, purchase of feeds and extra import of 6 million salmon juveniles.

The project will create 300 new jobs and provide extra tax disbursements to the budget system.

The investment project has been called one of the region's three leading projects meeting the strategy of social-economic development of Russia's Northwest up to 2020. Besides, the project has been approved by Russia's Federal Agency on Fisheries, Ministry of Regional Development, Ministry of Economic Development and Ministry of Finance for its enlisting as priority investment projects of the Northwest Federal District.