Yes, Salmofarms will build land-based salmon farm in Norway. €52mn project to get under way

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Decision has been taken.

In April, Salmofarms founder Carl Ivar Holmen, said the decision whether or not to build a land-based farm in Telemark county in Norway would be taken during the summer. 

“It is correct that we would evaluate the the project in July. Now we have decided to make this happen,” said Holmen to local newspaper Varden.

According to Holmen, they have focused on Asia in the fundraising process. Just before Christmas, it was revealed that the company had brought in investment bank Fearnley Securities to help out in the process. The project is expected to cost around €52mn.

The goal is to build a facility that can produce 5,000 t of salmon per year in a first round. In the the next phase the production will be increased to 10,000 t a year.

“We aim to start the project during August/September. Then hopefully there will be construction in the fall or spring,” said Holmen.