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Ship owners finalize the order of seven fishing vessels to the Vigo's naval sector

The new vessels will belong to the Joint ventures that already operate in Namibia, the Falkland Islands or Argentina. The total cost financed by the European Investment Bank will be around 120 millions Euros. Vigo's ship owners are ready to invest around 100 or 120 millions Euros in buying from 5 to 7 big vessels that would be built entirely by the local shipyards. The process for the signature between the companies from the naval sect0or and the fishing sector is advanced enough, according to sources from ARVI yesterday. This association met yesterday with the president of the Xunta de Galicia, Alberto Núñez Feijoó, who knew from the businessmen the actions made until today and to who they ask to give his institutional support for the success of the financing operation.
It is the first step -which could be followed by similar stages later - of renovation of big vessels that are operating in Namibia, Falkland Islands or Argentina, and in spite of its safety are now obsolete, they are expensive and they do not have the same fishing or mechanical efficiency as the new units, therefore retire them is needed. Some of them are between 30 and 35 years old, although other units are much modern.
Most of them were vessels exported by companies from Vigo to carry out with their contract part of the Joint ventures with other countries, that in exchange for the access to their resources.
Now is time to renew between five and seven units, but maybe this is not the last order. Needs of fleet modernization through a long term lending of the European Investment Bank, will be joint with the orders of a big part of the shipyards from Vigo. (Source: LA VOZ DE GALICIA)

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