RFC secures quotas at auction

RFC secures quotas at auction RFC is building a series of six fishing vessels, and has committed to a further four

According to the results of the auction held under Russia’s state programme of investment quotas, the Russian Fishing Company has secured fishing rights. The company will in addition build four new vessels for the Far East and a new processing plant in the northern region.

The company's pollock and herring quotas will increase by more than 80,000 tonnes when the vessels are constructed. With the commissioning of the new processing facility, an additional 1000 tonnes of cod and haddock will be made available.

“The results of the auction open up opportunities for expanding the RFC investment programme, which is being actively implemented today,” commented the RFC CEO Fedor Kirsanov.

“We have already made significant progress in the construction of a series of six super trawlers, as well as two fish processing plants, quotas for which were fixed in the previous rounds of the investment quota programme. Today we can confidently talk about the effectiveness of the mechanism of investment quotas, thanks to which domestic shipbuilding is being revived, the construction of onshore processing facilities is being updated, the fishing fleet that has been waiting for this for several decades is being updated.”

New vessels will be delivered by the Admiralty shipyard in St. Petersburg, where today a series of six vessels for the RFC is under construction. Each of the vessels is designed to catch and process more than 50,000 tonnes annually. The first of these vessels is expected to be commissioned in 2021.

Construction of a groundfish processing plant with a design capacity of at least 25 tonnes of finished products per day is planned in Murmansk, where today RFC together with Agama Group is building the Russian Cod facility with a production capacity of over 50 tonnes per day.

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