Russia and Japan will build large coldstore in Nakhodka

A large coldstore will be built in Nakhodka, Primorsky Krai (capital Vladivostok) with the project to be financed by Russia and Japan, according to RIA Novosti.

The Japanese investors will be represented by the Japanese company Hiro Kikaku which has been actively cooperating with a group of fishing companies based in Nakhodka through the recent three years.

The city's fishermen have been exporting to Japan Russian seafood, shrimps inclusive. The annual volumes of shrimp supplies have been reaching 1200 tonnes or nearly one quarter of the total ship supplies coming to the Japanese markets.

The Japanese investors think that business with Russian partners has been quite a success, however its further development has reportedly been hampered by large supplies of illegal products on the Japanese market.

Shrimp poaching and smuggling have been considerably depreciating the product thus making legally operating companies bear losses.

Therefore, the Japanese and Russian partners are willing to block off the "black" trade of shrimp and other aquatic species. Towards that end, they are planning to build a modern low-temperature coldstore to handle up to 3500 tonnes of product at any one time.

The idea is that Russian fishing companies will be able to land their catches for processing and deep freezing in Nakhodka for further export to Japan.

The construction is to take off in 2007. The volume of investments is estimated at ca.7 million USD. The Russian and the Japanese sides will finance the project's designing and construction jointly.

The project has been supported by the city's mayor Oleg Kolyadin who has also promised official assistance during its implementation.