During the Eastern Economic Forum Sber and Russian Fishery Company (RFC) signed a letter of intent to finance the construction of four large freezing fish trawlers in the amount of USD 400 million. The document was signed by First Deputy Chairman of the Executive Board of SberBank Alexander Vedyakhin and Chairman of the Board of directors of Russian Fishery Company Gleb Frank.

Under this agreement Sber will act as a lender and financial partner of the enterprise. Fishing vessels are planned to be built in Saint Petersburg. All-in-all eleven supertrawlers — the largest and most technologically advanced Russian fishing vessels — will be built for RFC. The first vessel has already undergone field tests. Six more vessels are at various stages of completion at Admiralty Shipyards (three vessels have been set afloat, factories are being assembled). The new agreement will give impetus to the construction of four more vessels. After being set afloat all trawlers will head to Primorye region to add to RFC’s fishing fleet.

“Russian Fishery Company is Sber’s long-term partner, and this is not our first agreement. We are happy to invest in a company that intensively develops fishing fleet in the Far East and is one of the large employers in the region. Apart from the new supertrawlers’ power and fishery efficiency, it is worth noting that they comply with the sustainability principles Sber is committed to.”

Alexander Vedyakhin

First Deputy Chairman of the Executive Board of SberBank

“Today is a milestone for us: we have financed four out of eleven vessels where Sberbank is a partner of construction. Thus we are closing the financial package for the whole programme of our new building. The new vessels are called supertrawlers for a reason. They are super efficient: not only are they able to catch 60 thousand tons of fish per year but they efficiently process it. Unlike the existing vessels, the new ones are able to make products for the final markets – fillet and surimi. They are super sustainable: fresh water use is reduced to zero, a supertrawler’s carbon footprint is the lowest among fishing fleet vessels. Within 4-5 years we should receive the remaining vessels of the line.”

Gleb Frank

Chairman of the Board of directors of Russian Fishery Company