Norwegians move to St. Petersburg to make money on shipbuilding

Two large companies, producer of shipboard equipment Bjordal and design company Skipskompetanse, registered in the city on the Neva where they want to participate in the redivision of the market.

The Norwegian companies claim that registration in St. Petersburg is the result of fears that foreign legal entities will not be able to get involved in fishing vessel engineering in the future. Russia started implementing the Keel Quota program, according to which an industrial fishing company must build modern fishing vessels in exchange for the right to fish.

Representatives of the Norwegian companies say that the Russian fish processing market is currently being redivided. There is no rule yet according to which Russian fishing companies would only be able to buy Russia-produced vessels or equipment; however, this requirement could be introduced in the future. The Norwegian companies want to localize their production in order to have the right to be called Russian suppliers, according to Fontanka. The companies are currently hiring staff for their facilities. The Federal Agency for Fishing announced on March 7 that the scope of government support for construction of small and medium-duty ships will amount to RUR 1 bio ($15.2 mio) per year. Additionally, the companies will be compensated for the costs of building ships at Russian shipyards.

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