Volga based processor investing 15 million Euro to build fish complex

In early 2008 OOO Flipper (ltd) based in Nizhnyi Novgorod (one and a half million strong regional capital on the Volga River) is planning to commission a big fish processing complex worth 15 million Euro to build, according to the firm's sales manager Igor Polischuk quoted by Vedomosti.

The new plant will occupy a total area of 5000 square meters and feature a storage capability of up to 1500 tonnes at any one time.

The construction is funded by the company's own money. Thanks to the new facility the company is planning to process up to 700 tonnes of fish per month while now it monthly processes ca.100 tonnes of fish.

At present the company is negotiating with German suppliers in order to purchase Steyr lines for the production of fish cakes, freshfrozen fish and fillets in vacuum packs. The value of equipment may amount to ca.20% of the total investments into the project.

Flipper's plans provide for securing the complex's full load within three years with the project to be paid off within five years. The products will be distributed to the company's established customers such as local and federal retail chains in Nizhny Novgorod and other cities and towns of the Volga Federal District. In 2005 Flipper's sales grew by 100% and starting from 2005 they were rising by 50% year-on-year. Director of a shop of the Kopeika chain says that the demand for Flipper's products has been stably rising by 10% per year.