New EUR 50 million contract with Nordic Aqua Partners Chinese full grow-out RAS project.
In a press release on Monday, AKVA group writes its subsidiary, AKVA group Land Based, is the chosen technology supplier of a full grow-out RAS project for Atlantic Salmon to Nordic Aqua Partners, in China.
The project’s targeted harvest volumes are 8,000 tonnes in 2026.
The realization of the project and AKVA’s delivery is dependent upon certain conditions to Nordic Aqua Partners’ equity financing. This is scheduled to be concluded in January 2020, it wrote.
The value of AKVA’s delivery is estimated to be EUR 50 million in the period 2020 to mid-2023. Further, AKVA will participate with EUR 3.1 million in equity in the project.
“The equity participation is considered by AKVA to increase its opportunity for a close follow-up on all technical, operational and biological performance measures, to ensure successful project delivery,” AKVA wrote.
