RFC Joint Venture to Build Fish Plant in Russian Far East
Russian Pollock LLC, a joint venture of the Russian Fishery Company (RFC), DV Invest LLC and the AMG Group, has announced plans to establish a major fish processing factory in the Russian Far East in October. The total investment in construction will amount to 1.5 billion rubles, or approximately US $21.4 million.
The plant, boasting capacity of more than 100 tons of finished product per day, is scheduled to be operational by 2021. Products initially packed will predominantly be pollock fillets and mince. Phase two of the project will facilitate a 20% increase in output and the production of ready-to-cook and ready-to-eat seafood for distribution in Russia, China and other markets in Asia.
"The new factory will be furnished with modern equipment that will ensure high quality products,” said CEO Fedor Kirsanov. “Construction of onshore factories is an important step for RFC to better serve consumers.”
The project is being implemented as part of a Russian Federation state program to support the construction of fishing vessels and fish processing enterprises that currently have harvesting quotas. After the factory comes on line, RFC will receive additional quotas permitting the landing of 14.5 thousand tons of pollock and herring. Current
Founded in 2011, Russian Fishery Company is a commercial fishing enterprise that engages in catching and selling fish and crab as well as providing warehousing, docking and maintenance services in Vladivostok. It ranks as the nation’s largest harvester of fishery products, employing approximately 1,500 people and landing more than 303,000 tons last year, including 226,300 tons of pollock and 66,500 tons of Pacific herring.
Formerly known as Russian Sea Catching LLC, the name was changed to Russian Fishery Company in 2014. Sales and EBITA in 2016 amounted to US $238.1 million and $107.1 million, respectively.