Russian Salmon to build smolt plant three years after declaring bankruptcy

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The Russians want to put an end to their reliance on Norwegian smolt and expect to start production in 2020-2021.

Company group “Baltiyskiy Bereg” (Baltic Coast and Russian Salmon) is looking for a land site for the construction of a smolt factory in the Murmansk region, said Mikhail Bobrov, the group’s general director as reported in Kommersant.

Baltic Coast Group is a major Russian fish processing holding uniting 15 companies including Russian Salmon that specialising in fish acquisitions, farming, production, packing, and sales.

The production capacity of the company requires an area of ​​5 hectares. The plant plans to grow up to 6 million fry of Atlantic salmon per year.

Dependence on Norwegian stock
According to Pavlo Tikhonov, General Director of PJSC “Russian Salmon” (part of the GK “Baltic shore”), the construction of production facilities will allow the company to move away from dependence on Norwegian stock.

The company expects to start production in 2020-2021. The cost of the project without taking into account the cost of land and the construction phase is to cost € 25 million.

Barents Sea
Furthermore in May-June next year, Russian Salmon says its going to resume salmon production at a fjord on the northwestern coast, Malaya Volokovaya Bay, which was stopped in 2015. The publication also reported that the company are preparing salmon farms in the Barents Sea, and intends to grow 15,000 tons of fish per year.

In 2015 Russian Salmon with its sister company Baltic Coast filed for bankruptcy following mass deaths and a weakened currency running up debts worth 1.5 billion rubles (EUR 11,6 million).