P2 foresees the construction of up to 30 highly efficient fishing ships, 35 crab catchers and 8 fish processing plants
Russian President Vladimir Putin has signed a law on Phase 2 of investment quotas and crab auctions with investment obligations. Amendments have been introduced into the Federal Law on Fisheries and Conservation of Aquatic Biological Resources, says Rosrybolovstvo (Russian Federal Fisheries Agency).
The law is aimed at further modernization of the Russian fishery industry’s production facilities which is to increase the catch due to the development of the World Ocean resources, ensure modern fish processing, generate new jobs, improve the socio-economic standards in the regions, withdraw from the raw-material orientated exports, fill the domestic market with affordable and high-quality fish products.
P2 foresees the construction of up to 30 highly efficient fishing ships, 35 crab catchers and 8 fish processing plants
The second phase will let industry attract additional RUB 300 billion.
Revenues from the sale crab quotas will make about RUB 150 billion.
The amendments come into effect in 2023.
The law text is available in Russian
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