Russian Gov't to allocate RUB 500 million in subsidies to support small-tonnage fishing ships construction, Rosrybolovstvo says
Russian Government plans funding of small-tonnage fishing vessels construction allocating some RUB 500 million at first phase, a Rosrybolovstvo official said.
The funding will be provided by the Ministry of Industry and Trade, PortNews reporter quotes the head of Rosrybolovstvo Ilya Shestakov as saying.
However, a source familiar with the matter told PortNews the issue is still in the process of discussion and has not yet been finalized.
The vessels are supposed to be built for the Baltic Sea, the Azov-Black Sea basin and for the Caspian Sea. One newbuild is valued at 400-500 million rubles.
Earlier, spokespersons for Rosrybolovstvo offered to subsidize 25% of the cost newbuilding for fishing sector. Funds will be provided upon completion of newbulding.