AKVA group subsidiary signs potential €95 million contract with Sweden’s first land-based salmon farm

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AKVA group Land Based also is up for EUR 3 million equity participation in the project.

In a statement on the Oslo Stock Exchange on Thursday, AKVA group Land Based, a subsidiary of AKVA group, has signed an engineering and design contract with the Swedish company Premium Svensk Lax (PSL). PSL has been granted permission to produce 10,000 tonnes of salmon by Swedish authorities based on AKVA´s Zero Water Change RAS technology.

PSL, Sweden’s first land-based salmon farm, got the green light to be built after it passed its environmental assessment in October. Fully developed, the site will account for about 20 per-cent of Sweden’s total consumption of salmon.

AKVA has been chosen as the preferred supplier and the final delivery contract, if awarded, has a value of EUR 95 million.

AKVA’s equity participation in the project up to EUR 3 million is subject to PSL obtaining the necessary financing for the project and agreement on a final delivery contract.