Allocated 14 million rubles to be spent for renewal of the fishing fleet of Sakhalin in 2010

Regional officials announced the first results of the implementation of targeted 2009-2011 development program for fishery complex of the Sakhalin region. The government allocated as much as 14 million rubles for upgrading of the fishing fleet, RIA Sakhalin-Kuriles reports citing Sergei Karepkin, regional Vice Governor. The money will be spent for reimbursement of interest on loans from Russian banks and parts of the lease payments for vessels purchased for the mining, handling and transportation of aquatic biological resources. "Tias" and "Perseus" were the companies that had won bidding for the contract, the official said.

The regional government support will be also provided to those fishing companies, who invest in the modernization and upgrading of their processing facilities. Governemt’s investments in the statutory capital of "Partner" and "Friendship" JSC amounted to 35 million and 9 million rubles accordingly. These companies were created for the implementation of investment projects by "Friendship" fishing farm and "The Island" fish processing plant.

"Target program for support of fishery complex will be valid next year too,” Mr. Karelkin is quoted as saying, “after all, the regional authorities are well aware: the development of real sector of the economy may help the island region to recover quickly from the crisis."