PRFoods receive letter of intent
Saaremere Kala and OÜ Tallinna Lihatööstus have concluded a letter of intent for establishing a joint undertaking to set up a joint offshore fish farm.
OÜ Tallinna Lihatööstus belongs to Direct Consulting with the subsidiary of AS Hiiu Kalur.
Hiiu Kalur is an Estonian fishing company founded in 1991 (whose legal predecessor operated already since 1949) which has a share in seven fish processing plants and is one of the Estonian biggest fishing companies. The same group also operates the ports of Veere and Lehtma and Suursadam.
The idea of establishing a joint venture lies in uniting the long-term experience related to fishing and fish processing of Direct Consulting and wide fish-farming experience of PRFoods group. This venture combines setting up an environmentally friendly operation of a joint modern offshore fish-farming.
In its end of year financial report, PRFoods stated that it plans a four-fold increase in production capacity in order to meet the high demand for salmonids both domestically and abroad.
Throughout 2018, the firm has already applied for domestic licenses for farming 10,000 metric tons of rainbow trout at several locations around the islands of Hiiumaa and Saaremaa in western Estonia.