Whitefish giant Russian Fishery Company (RFC) and Russian bank SberBank signed a letter of intent on Thursday to finance the construction of four large freezing trawlers worth $400 million (€338.8 million) at the Eastern Economic Forum in Vladivostok.

SberBank will act as a lender and financial partner of the RFC under the agreement.

“It is a milestone for us, as we are closing the financial package for the whole construction program for 11 new supertrawlers, where SberBank is a partner of the construction,” RFC Chairman Gleb Frank said.