Russian Crab Group of Companies and Far East and Arctic Development Corporation (FEDC) entered into the agreement for construction of crab fishing vessels

On September 11, on the sidelines of the Eastern Economic Forum, Russian Crab Group of Companies and Far East and Arctic Development Corporation (FEDC) signed an agreement on cooperation as a part of implementation of the investment project for the construction of up to ten crab fishing vessels. Investments into the project will amount to 120 bln rubles, and its implementation will help to create at least 250 jobs in the Far East.

At the signing ceremony, Director General of Russian Crab Group of Companies Alexandr Sapozhnikov and Deputy Director General for Investment Promotion of FEDC Kirill Kamenev acted as the counterparties’ representatives.

“Renovation of the fishing fleet is one of strategic priorities of our country. Present-day sophisticated vessels will make it possible to increase efficiency of development of valuable national bioresources and environmental friendliness of the fishery, improve the work conditions of fishermen and navigation safety. It is planned to complete the order for construction of a new series of vessels as part of investment quotas program”, said Director General of Russian Crab Group of Companies Alexandr Sapozhnikov.

Russian Crab Group of Companies is one of the top crab fishing companies of Russia and the largest one in the Far East. The company’s active fleet includes 37 vessels, being the biggest crab fishing fleet in Russia at present. In 2023, the Group owns the rights to harvest ~12 thousand tons of crab in the Far Eastern fishery basin. Since 2020, as a result of the first-stage auctions for investment quotas, the company has been implementing a large-scale program of construction of 10 crab fishing vessels, seven of which are intended for harvesting and transportation of live crabs, and three others are crab fishing and processing vessels for harvesting and processing of the catch into finished products at the on-board factory. The lead ship of the series was commissioned in March 2023.