11 Dec 2017 12:46

Vladivostok Free Port resident invests 20 mln rubles in production of commercial fishing nets

MOSCOW. Dec 11 (Interfax) - Vostokpromsnast, a resident of the Free Port of Vladivostok, has started producing commercial twisted-polyamide fishing nets in the city of Nakhodka, Primorye territory, the Far East Development Ministry said in a statement.

Investment exceeds 20 million rubles, the ministry said.

"We [Vostokpromsnast] were attracted by numerous preferences provided by the free port, primarily preferential tax rates. We see the zero revenue tax as one of the most significant advantages," Vostokpromsnast General Director Roman Neustroyev said.

The company purchased and repaired the factory and procured domestic and imported twisting machines for the net-making workshop; the result is environmentally friendly production with minimal waste.

Vostokpromsnast manufactures practically every type of polyamide fishing gear needed by the fishing industry of the Primorye, Kamchatka, and Khabarovsk territories and the Sakhalin region. The company plans to produce polyethylene ropes in the future.

According to the Far East Investment and Export Agency, Vostokpromsnast is the regional representative of two major international manufacturers of polyethylene nets and ropes, India Nets and Vietnam