500mln strong investments into salmon culture near Saint Petersburg

Akvatrade company will build a salmon farming combine in the Lodeinopolsky district of Leningrad region surrounding Saint Petersburg to produce 2 thousand metric tons of salmon per year. Investments into the project are estimated at 500 million rubles (7.8 mln USD, 6.9 mln Euro).

The combine will be built in three stages, the first of which will be completed in 2021, the third - in 2023. Salmons (species undisclosed) will be raised in RAS environment and then go for primary processing. Therefore there will be a complete closed cycle production: from eggs to packaged chilled fish to be delivered directly to federal retail chains in St. Petersburg, Moscow and their regions.

The stocking material (eggs) will be purchased in Denmark or South Africa.

Established in March current, Akvatrade is a subsidiary of Aquaculture Ltd, 66% of whose shares are owned by Petersburg billionaire Andrei Katkov and the remaining shares belong to Dmitry Gubko.