The Russian Salmon Company project is the largest aquaculture project in the Murmansk region and has received funds of 2.1 billion rubles.
The investment has helped to build fish breeding farms and fish processing factories and further modernisation and expansion plans are in the pipeline, including the purchase of new equipment.
At present the company has seven marine cage farms in the open water with automatic feed distribution.
The project has created a single production chain for clean fish products for consumers at an affordable price.
At full capacity, the company will be able to produce up to 15,000 tonnes of fish a year, which will give the "Russian Salmon" company 40 per cent of the market for salmon in Russia by 2015.
The successful implementation of the project has become a focal point for the entire domestic Russian fishing industry.
The development of the aquaculture facilities will create more jobs and increase tax revenue for the regional budget and will maintain the ecological balance of the area and develop a tourism infrastructure, according to Rosselkhozbank.
The bank said it will also consider favourably refinancing loans from other banks, provided for the reconstruction of farms, the purchase breeding stock and feed.
Murmansk Aquaculture Project Gets 2.1bn Ruble Loan
RUSSIA - Modern, high-tech Atlantic salmon farms have been established in the Pechenga and Ambarnaya inlets of the Barents Sea near Murmansk in Russia hanks to aid from the Russian agricultural bank, Rosselkhozbank.
by Chris Haris
