Russian sturgeon farm secures financing for ambitious expansion project

April 30, 2008 12:08

OAO Novocherkassky Rybokombinat Company based in Rostov region in the South of Russia plans to boost its sturgeon farming capacity to more than 1,000 tonnes by the year 2012, according to media reports from the area. This is half of the total volume of the valuable species now produced in Russia, the reports said.

In order to reach the goal the company, which now majors in carp, culture plans to revive the hydro system, expand the storing facilities of live fish in winter time from 1.2 thousand of tonnes to 5 thousand of tonnes and build a cannery. They have never processed fish on the territory of the farm but by the year 2009 the company plans to start canned fish processing under "Novocherkassky Rybokombinat" label

At present the company farms not only carps species but sturgeon species as well. In 2006 the company raised only 40 tonnes of sturgeon species but in 2007 the company's volume amounted to 350 tonnes already.

At present, there are 9 sturgeon species in the brood stock of the company. The company's largest ambitions are connected with paddlefish whose weight reaches up to 80 kg. The paddlefish production is very profitable thanks to economy of feeds. This species is the only one that is not a predator. In 2008 the company plans to carry out the first hatching of paddlefish eggs.

The company's chairman Mr. Alexander Pidenko quoted by the reports says that in the coming years his company is very seriously committed to the ambitious goal of securing leadership in sturgeon farming in Russia.

About the company

The farm was established in 1972 and in 1992 the company was privatized and converted into joint-stock company. In 2004 a control packet of shares has gone to private investors with the interests in question investing more than USD8 million.

In 2007 the company took a loan of RUB 578,868 from Russia's Sberbank Savings Bank to finance the project known as "Building, Modernization and Reconstruction of Novocherkassky Rybokombinat". More specifically, the project of modernization of the company is divided into two periods, the first one is the period of investments (2007 - 2009) and the second period (in the years 2009 - 2012) is planned to increase the volume of production. The project is expected to come in full operation by 2012 and then the volume of production will amount to 10,000 tonnes per year.

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