AKVA Group has finalized a €30 million contract with Cermaq Chile for the construction of a new recirculating aquaculture system (RAS) facility in the Los Lagos region of Chile.
The agreement follows a letter of intent (LOI) announced on October 22, 2024, and marks a significant step in AKVA’s expansion in the land-based aquaculture sector. Engineering and site work for the project are set to begin in the fourth quarter of 2025.
Cermaq, a subsidiary of Mitsubishi Corporation, is investing in smolt production capacity to enhance its Chilean operations. The facility is expected to incorporate advanced water treatment and biosecurity measures to optimize fish health and growth.
AKVA Group, a Norwegian aquaculture technology provider, has been expanding its land-based solutions portfolio, citing growing demand for sustainable smolt production. The company expects the project to contribute positively to its order backlog and revenue growth.
The contract was confirmed in a stock exchange announcement by AKVA Group on February 3, 2025.
