Russia talking with Portuguese investor to build fish processing factory in Spitsbergen

October 18, 2007 12:48

Undisclosed Portuguese investor says he is ready to finance construction of a fish processing factory in Spitsbergen, according to head of Russia's State Fisheries Agency Andrey Krainy quoted by Interfax.

Apart from investing into the factory's construction, the Portuguese are also going to buy all the factory's products.

Andrey Krainy says that the project worth 400 million RUB will pay back within 3.5-4 years.

The new factory in Spitsbergen will process cod, haddock and other fish species.

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