Norebo Holding, Russia’s largest fishing quota holder, has acquired the Petropavlovsk-Kamchatskiy shipyard.

The cost of the deal was not disclosed, but the group revealed plans to invest RUB 4.5 billion (€54.3 million/$61.2 million) in the reconstruction of berths and the building of a base for the repair and maintenance of fishing vessels and the replacement of crews.

It is assumed that the complex will annually serve around 60 vessels of both the Norebo fleet and other fishing companies.

"We know well how such repair and maintenance of ships is carried out in Norway, South Korea, China or Poland, and we want to create such facilities in Russia," Sergey Sennikov, deputy director for international affairs and public communications at Norebo, told IntraFish.