An intergovernmental commission of the Russian government has approved an application from Norebo Group for special investment quotas for cod, halibut, and grenadier in the Bering Sea.
Russia’s investment quota program – launched two years ago – offers additional fishing quota as an incentive for building new processing plants, storage facilities, and fishing vessels.
Murmansk, Russia-based Norebo, which is the country’s biggest fishing company, placed the order for four new longliners in July 2020 with the St. Petersburg, Russia-based Severnaya Weft shipyard. The first of the modern 63-meter trawlers is scheduled to be handed over to the company in May 2024, and the fourth will be delivered by August 2025. The vessels will be equipped with processing capacities of up to 50 metric tons (MT) a day. Norebo’s total investment in the longliners will be RUB 11 billion (USD 148.5 million, EUR 125.9 million). The longliners will be operating in the West Bering and Chukchee fishery zones.
“We are active in fishing cod and halibut in the Russian Far East. The new vessels will allow us to expand the location of catch,” Norebo Deputy Director of International Affairs and Public Relations Sergey Sennikov told Business Petersburg.
The size of the quotas awarded by the Russian government for Norebo vessel construction will be revealed after an auction taking place 17 August, 2021.
Separately from the longliners, Norebo has also entered a contract to construct 10 trawlers of 81 meters, capable of catching and processing 230 MT a day, and Norebo is now considering further vessel construction under the investment quota program, with an eye on renewing its pollock- and herring-fishing fleet, Sennikov said.
Photo courtesy of Nautic ehf
