More projects allowed to compete for investment quota shares

July 6, 2021 15:54

The Interdepartmental Commission for the Selection of Investment Projects has approved six new applications for investment quota shares versus an obligation to build fishing vessels at domestic yards, reports

According to the Federal Agency for Fishery (FAF), with too many entrants on the table, a reduction auction will be held to distribute the shares.

Four newbuilding projects of JSC YAMSY (Kamchatka) and one project of Sigma Marine Technology LLC and Treska DV LLC (Khabarovsk Territory) were accepted. All applications involve construction of medium-tonnage vessels with a length of at least 50 meters at Russian shipyards for fishing in the Russian Far East (investment objects of type "F").

As a reward for the implementation of the projects, it is planned to allocate quota shares of Pacific cod in the West Bering Sea and Chukchi zones, halibut and macrurus fish in the West Bering Sea zone.

The total number of quota shares for the announced projects exceeds 100%, so the commission decided to hold an auction involving a reduction in the shares of investment quotas.

The Commission also approved the auction protocol of December 28, 2020 on the distribution of shares for projects for the construction of vessels with a length of more than 30 meters for Murmansk-led North Fisheries.

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