Russian Pollock Association boosting allocations of funds for investment into production assets development

March 24, 2009 16:53

The Russian Pollock Association has drafted ambitious plans for fleet renewal and modernization as well as development of onshore facilities, reports ( ).

In a greater detail, the "Investment Portfolio" of the Association members for 2009 - 2011 is estimated in RUB 5 billion and includes buying and building of 4 large and middle vessels, upgrade of 10 vessels to high value-added production, building of cold storage and handling complexes and development of onshore processing.

29 largest Russian fish companies are enrolled in Russian Pollock Association with head quarters in Vladivostok. In 2008 the members of the Pollock Association invested a total of RUB 1.5 billion into their production assets, the figure representing the half of total investment to the Russian fish industry. Namely, 1 large and 2 middle vessels were bought as well as hulls of 2 large vessels. Five onshore processing plants were modernized, 24 vessels were repaired and 6 processing lines for value-added seafood production were installed.

This year the Association is also working on a number of more general issues such as possible increase of catch volume in Russian EEZ and in the areas under International agreements, prospects of fishery legislation improvement and stocks conservation, prospects of the system of technical regulation in fish industry and preparation of Technical regulation "Food Products From Aquatic Biological Resources", etc.

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