As customer Nordic Aqua Partners has landed financing, AKVA group’s €50 million China contract is secured

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CEO Knut Nesse and AKVA group announced just before Christmas an agreement with the company Nordic Aqua Partners. The agreement, for the construction of a land-based salmon farm in China, was conditional on financing. Now it’s in place.

On Friday morning it was announced that Nordic Aqua Partners has raised EUR 55 million in a private placement. And, as a consequence, AKVA group has confirmed the construction contract in an Oslo Stock Exchange announcement.

Work starts in January 2021, just outside Shanghai. AKVA group’s EUR 50 million contract is for a first phase facility that will produce 4,000 tonnes of salmon annually.

AKVA group added that it will contribute EUR 3.1 million in equity.