Nordic Aqua Partners secures €13 million short-term loan to support China project.
Nordic Aqua Partners AS has entered into a €13 million short-term credit facility with DNB Bank ASA and Coöperative Rabobank U.A., the company announced Tuesday. The seven-month facility is intended to support the company’s ongoing construction activities, production strategy, and general corporate purposes, according to a stock exchange update on Monday.
The company is currently developing a fully integrated land-based salmon farm in Ningbo, China, using recirculating aquaculture system (RAS) technology.
Once operational, Nordic Aqua will become the first local producer of fresh Atlantic salmon for the Chinese market, with a projected annual output of 20,000 tonnes (HOG).
Nordic Aqua Partners is listed on Euronext Growth under the ticker NOAP.