The expansion had a robust impact on the company’s financial performance in the first half of 2017, with revenues increasing by some 836% to RUB 3.343 billion (€46.5 million), Russian Aquaculture said in a statement.
The company recently opened a new salmon farm in the Barents Sea, and plans to sell more than 1,500 tonnes of fish from this operation by the end of 2017.
“The company continues to move towards its goal of creating the largest vertically integrated player in the aquaculture market. The next step in this direction was the purchase of a smolt plant, which will allow us to better control the health of the fish, as well as adopt technology and invaluable experience from Norwegian specialists with a successful ten year history,” the statement said.
Currently, Russian Aquaculture owns 29 salmon and trout farms. The firm's core activities include commercial farming of Atlantic salmon in the country’s Murmansk region, and commercial farming of trout in the lakes of the Karelia region.
Based in Moscow, Russian Aquaculture operates three Atlantic salmon farms, and owns 20 farming licences, of which 13 are in the Barents Sea and a further seven in the White Sea.
The company’s trout farming operations comprise five farms on Segozero lake in Karelia, as well as 13 additional licences – eight of which are on Segozero lake, three for Ladoga lake, and two for Vygozero lake, according to data released by Russian Aquaculture.
