Russian Sea Group won a tender for 9 fishing sites for salmon and trout farming with potential volume up to 30,000 MT

January 10, 2012 11:53
OJSC «Russian Sea Group» (the «Company» or the «Group»), one of Russia's leading consumer food companies, today announces the conclusion of contracts for 9 sites in Barents and White Sea basins destined for salmon and trout farming that were won as a result of a state-conducted tender.

The tender was announced in October 2011 by the Barents and White Sea Territorial Administration of the Federal Agency for Fisheries. Besides "Russian Sea Group" nine companies participated in the tender.

Earlier in January 2011 the Company gained right to use 9 sites in Barents Sea - in total the Group has 3 sites in which the fish is farmed and 26 sites for future development in Barents and White Sea and Karelia. In 2011 the total volume of farmed fish exceeded 1500 tons.

According to the Company's management the gained sited in Barents Sea are the most suitable for salmon farming due to the Gulf Stream proximity and optimal temperatures. The total potential farming volume on the Group's sites amounts to almost 70 thousand tons which represents around 50% of total Russian red fish consumption.

By winning this tender the Company terminates to form its portfolio of sites suitable for commercial fish farming and starts its active development. The development will be financed with the credit line approved by Russian Agricultural Bank for aquaculture development with the total amount of 2.8 billion rubles. The interest rate will be subsidized according to the laws of Russian Federation.

The Company has already started to work on salmon and trout farming in Murmansk region and Karelia. The first site is planned to be launched in May 2012 when Atlantic salmon smolt will be put into water. At the moment the Company purchases and installs equipment and trains personnel that is extremely important as commercial fish farming is a highly technological process.

Inna Golfand, "Russian Sea - Aquaculture" CEO, said: "The conclusion of contracts for fishing sites in Barents and White Sea corresponds to our strategy of investing in highly profitable segments of fishing industry. We conducted the serious work together with the leading international and Russian companies and scientific institutions in order to determine sites. The gained sites are one of the most valuable for development of aquaculture of salmonids. We are sure that it is possible to substantially replace the red fish import to Russia and to provide Russian people the possibility to consume high quality fresh fish".


Russian Sea Group was founded in 1997 and began its operations by importing herring and mackerel from Norway. In 1999, the Company launched production of the ready-to-eat fish products under its core ‘Russian Sea' brand and then continued its development as a producer and distributor of fish and fish products. At present, Russian Sea Group comprises two main business divisions, operated respectively by Russian Sea Company, and Russian Fish Company, each a wholly-owned subsidiary of Russian Sea Group.

The ‘ready-to-eat' business (Russian Sea Company) produces and sells "ready-to-eat" fish and seafood products under well-recognized brands, such as "Russian Sea","Islandka", "Selyodochka Stolichnaya", "Mediterana", "7 Uzlov" and "Flottika". These products include salted and smoked salmon and trout, red caviar, a wide assortment of herring products, seafood, seaweed products androe spreads. The Group operates a modern fish and seafood production facility in Noginsk, Moscow region (approximately 40 km from Moscow).

The Group's chilled and frozen' business (Russian Fish Company) sells and distributes over 60 types of fish and seafood, including, among others, salmon, trout, cod, herring, mackerel, humpback salmon, pollack, flounder, shrimp and squid, to nationwide and regional retail chains, regional distributors and fish processing companies throughout Russia. The chilled and frozen fish and seafood business sources fish from domestic suppliers, as well as foreign suppliers from 18 countries, including, among others, Norway, the UK, the USA, Chile,Iceland,Vietnam and China. Its major international suppliers include Marine Harvest, Shetland Catch and Norway Pelagic. The Company supplies fish and seafood to over 85% of the regions of the Russian Federation.

The Group also operates a fish farming business (Russian Sea Aquaculture) which commenced operations in 2007 following the Group's purchase of a trout farm at Lake Segozero in Karelia, Russia, the entire output of which is currently sold to Russian Fish Company for further distribution.

For further enquiries contact:

Mila Rotinskikh
Head of PR
Tel.: +7 (495) 258 99 28 ex. 3104
Mob.: +7 (903) 000 69 05

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