According to the Wednesday report of the Ministry of Arctic Development and Murmansk Region's Economy, Fishfarm, a new resident of the Arctic Zone of the Russian Federation (AZRF), is planning to build a trout farm with an annual capacity of 400 tons. The farm is to be located in the Pechenga district of the Murmansk Region.

'Fishfarm LLC, a new AZRF resident from the Murmansk Region, will set up a fish farm for the industrial production of rainbow trout in the Pechenga district. According to the business plan, the investor plans to reach an annual capacity of 400 tons. The produced fish will be sold on the Russian market. The project won the tender for long-term projects held by The Second School — Development Project Centre of the Pechenga Region,' states the report, as quoted by the TASS news agency.

According to Olga Kuznetsova, deputy governor of the region, investments in the project will amount to almost RUB 43 mn, of which RUB 30 mn is an interest-free loan obtained through the tender. Twelve new jobs will be created for local residents.

To date, 99 companies and individual entrepreneurs in the Murmansk Region have been granted the AZRF status. They have reported of more than RUB 128 bn in investments and the creation of over 4,000 new jobs.