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News 2595 views last update:14 Jan 2016

Japanese company to build fishmeal plant in Russia

Japanese company Mitsui is planning to build a fishmeal production plant on the Sakhalin Island in the far east part of Russia.

Negotiations on this project are in the final stage, according to Hiroshi Meguro, CEO of Mitsui & Co Moscow. The preliminary agreement on the project has been signed during a working meeting with the head of the Federal Agency for Fisheries Ilya Shestakov, reported Russian media SoyaNews.

According to representatives of the Japanese companies the project has good prospects and may be launched after 2015. The capacity of the plant will be about 300 tonnes of fishmeal per year. It will be used by the local compound feed producers and other customers.

"We also see great potential in the development of aquaculture in the Russian Far East," said Hiroshi Meguro. "The company is currently engaged in studying the prospects of growing scallops and oysters on Sakhalin, as it sees strong demand for these products both in Russia and Asia." Also, according to Hiroshi Meguro, in Primorsky Krai there are observed suitable conditions for the commercial cultivation of sea urchin.

Russian officials promised that all these projects will have a state support.

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