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Far Eastern investors will be given new fish quotas - EastRussia | Far East

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Far Eastern investors will be given new fish quotas

Far Eastern investors will be given new fish quotas
Photo: pixabay.com

Opportunities for obtaining quotas for catching biological resources in the Far Eastern fisheries basin, provided in exchange for investments, have expanded in Russia. A government decree comes into effect on February 14th.

New investment targets can now be medium-tonnage trawler-processors or fishing vessels with a length of at least 50 meters. As reported Parliamentary Newspaper, they should have freezing equipment with a capacity of at least 25-50 tons of products per day.

The minimum amount of a bank guarantee for such facilities is 360 million rubles. To ensure investment projects, they will provide quotas for the extraction of pollock, Pacific herring, cod, halibut, and macrus.

A system for allocating quotas to stimulate investments in fish processing and modernization of the fishing fleet was introduced in 2016, however, investors will be able to use the right to catch for the first time only this year - only completed projects adopted by the state commission can apply for promotion.