May 27, 2020

First phase started for setup of US$130 million Norwegian fish farm

Work has begun this month on the first phase of Salmon Evolution's kr1.3 billion (US$130 million) fish farm at an abandoned quarry at Indre Harøy on the west coast of Norway, SeafoodSource reported.

The farm is anticipated to become one of Europe's biggest of its kind once all three phases of the project are completed. It is potentially capable of producing 36,000 tonnes per year.

In the first phase, tanks with the capacity to produce 9,000 tonnes of salmon per year will be installed. Smolts will be transferred to the tanks in the fourth quarter of next year.

"Starting construction is an important milestone for us, and a clear signal that land-based aquaculture will be an important supplement to conventional fish farms," Håkon Berg, Salmon Evolution's acting CEO, said.

"Technology development and new business opportunities will emerge, and the [Norwegian] region will be put on the national and international map. It's a great joy to see the machinery on site, but we won't celebrate until the fish are in the tanks," Kristofer Reiten, one of the company's founders, said.

Salmon Evolution had raised kr258 million (US$26 million) in March, including kr107 million (US$10.8 million) from existing shareholders.

- Seafood Source