New application campaign for investment quotas taking off in March 2019

On 1 March 2019 Russia’s Federal Agency for Fisheries will open the fourth stage of application campaign for those fishing companies who are willing to get extra capture quotas in return for obligation to invest into building of new fishing vessels or processing facilities inside Russia, according to FAF.

This stage will cover the so called investment quotas for capture of cod, Pacific flounder, Atka mackerel, grenadier, saffron cod and halibuts.

Companies will be able to apply for the above quotas provided that they are ready to invest into building of new vessels of middle and small class (from 35 meters and 25 meters long correspondingly) for operation in the Russian Far East Fishery Basin (investment objects E-1, E-2, Zh-1, Zh-2), as well as a fish processing plant of small capacity (investment object E-3).

The applications will be admitted until 30 June 2019.