Vladivostok processors to receive financial support

This year 20.7 million rubles designed to soften borrowing rates have been budgeted for the development of the seafood processing industry in Vladivostok-led Primorye in the Russian Far East, according to DVTimes.

More specifically, seafood processing plants will be able to take eight-year investment loans to buy technological equipment for modernization of production facilities with the companies to receive compensation from the regional budget of a considerable part of the interest rates of the loans in question.

At the initiative of the Governor of Primorye Sergey Darkin special attention is to be paid to development of the onshore seafood processing. The stipulated measures are to become an instrumental component of the drive to carry out this important task.

According to industry experts, development of the onshore processing and the implementing of the new facilities will enable Primorye to increase the index of industrial production, to meet the demand of the local domestic market for high-quality seafood products and increase competitiveness of the industry.