Russian Pollock LLC to invest $15 million in a new fish processing plant
Russian Pollock LLC, a joint venture of Russian Fishery Company and DV Invest LLC, signed an agreement with the Federal Agency for Fishery (Rosrybolovstvo) which guarantees an extra quota for pollock and herring.
The volume established within the framework of the agreement will be delivered to Russian Pollock processing unit that is to be built near Vladivostock, informs a press release of the company. The construction will start this year but the unit will be operational in 2020.
The processing capacity of the factory will be more than 60,000 tons of Pollock with the output of 25,000 tons of high value-added products.
"Our joint objective is to make the industry modern, technologically advanced. We expect that the result of these positive changes will be visible, first of all, to our Russian consumers, and products under the sign "Made in Russia" will be the best in the world", said Petr Savchuk, deputy head of Rosrybolovstvo, after signing the document.
The factory will be equipped with modern high-tech equipment and will allow producing a variety of high-quality fish products. Total investment into the project is planned at the level of $12-15 ml.
According to the agreement, RFC will receive additionally 14,500 tons of Pollock and Herring quota once “Russian Pollock” factory is commissioned. "The construction of modern on-shore processing facilities will be an important step in the implementation of RFC strategy to increase the share of high value-added products in our portfolio," said Andrey Teterkin, CEO of Russian Fishery Company.
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