Far East Development Corporation JSC has signed an agreement with Rus Food LLC, Nakhodka Sea Fishing Port OJSC and Terra LLC on carrying out activities within the Free Port of Vladivostok. According to the Corporation, investments into new production facilities are estimated at RUB 4.082 bln. Over 320 jobs are to be generated in the Primorsky Territory.
Nakhodka Sea Fishing Port OJSC is going to carry our large scale reconstruction and modernization of the port. The company is looking into creation of multi-purpose transshipment complex including cooling-freezing center with advanced technologies and equipment for expansion of handling, storage and processing of fish. Besides, the project implementation will let expand general port capacity and ensure environment for development of Primorje-1 corridor, Northern Sea Route, New Silk Road etc.
Terra LLC is going to produce electric lamps and lighting equipment while Rus Food LLC will grow rice at the area of 1,200 hectares.
Federal Law of the Russian Federation (No 212-FZ) "On the Free Port of Vladivostok", came into force on October 12, 2015. Free Port regime provides for a wide range of preferences and tax benefits.
To acquire a status of FPV resident a company must be incorporated within the territory of Vladivostok Free Port and invest at least RUB 5 mln within 3 years.
Far East Development Corporation JV was defined by RF Government as a company to manage Priority Socio-Economic Development Areas (PDAs) and the Free Port of Vladivostok, 100% of which is held by the Russian Government.