AKVA group strikes major feed barge deal with Grieg NL

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The company has an exclusive contract to build at least eight barges as well as feed systems for the salmon farmer’s Canadian operations.

AKVA group (AKVA) has today announced in a press release that it has entered into a supply and sales contract with Grieg NL Seafarms Ltd, the marine based operations of Grieg NL.

Grieg NL’s aquaculture project in Newfoundland and Labrador includes developing significant production of salmon in Placentia Bay, Newfoundland, Canada. Under the Supply and Sales Contract, AKVA group, through its wholly owned Canadian subsidiary AKVA group North America Inc, will become exclusive its supplier of feed systems and feed barges for the period up to 2026.

The barges will be built locally in Canada and the supply and sales contract’s scope is for a minimum of eight barges. The final number of barges is dependent upon the final number of licenses/sites issued and approved by the Province of Newfoundland and Labrador and the Federal Authorities.

Final sales contracts will be determined by AKVA group and Grieg NL when the final design of the barges is agreed. The delivery is estimated to commence with the first three barges in Q2 2020.