Grieg Seafood granted five new licenses to farm 30,000 tonnes of salmon in Newfoundland

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Long-term annual harvest potential of 30,000-45,000 tonnes.

In a press release on the Oslo Stock Exchange, Grieg Seafood writes that it has been granted five new farming licenses in Newfoundland, Canada, reaching eight licenses in the region, corresponding to a total production capacity of up to 30 000 tonnes of the annual harvest.

The allocation is part of the previously communicated plan for the development of the Placentia Bay operations, the salmon farmer wrote.

“This is another important milestone on our journey of sustainable growth. With these five new licenses we have come one step further in the development of a new farming region in Newfoundland. With close proximity to the important US East Coast market, the Newfoundland farming operations is core to our 2025 strategy. Here, we aim for global growth, cost leadership in the regions where we operate and value chain repositioning, evolving from a supplier to an innovative partner for selected customers in the US and European markets,” said Andreas Kvame, CEO of Grieg Seafood.

Farming activities in the Newfoundland region is expected to contribute with 15,000 tonnes of annual harvest by 2025 and has a long-term annual harvest potential of 30 000-45 000 tonnes. The first harvest is expected to be in 2022/2023.

Grieg Seafood Newfoundland has long-term exclusive farming rights to the Placentia Bay area. The project comprises 11 licenses. Previously, Grieg Seafood had received three of the licenses. The remaining licenses are in different stages of application.

“We will build the Newfoundland region step-by-step and in line with best practice from the best performing operations in our Norwegian regions. We are committed to farm with as low environmental impact and as high fish welfare as possible, and to contribute to local jobs and value creation in the Marystown area. It is important for us to be a good partner to the local communities and local authorities to create value for all,” said Kvame.

A RAS fresh-water facility, including hatchery, nursery, smolt and post-smolt divisions, is currently under construction in Marystown. Grieg Seafood Newfoundland reached another milestone in July, as the first eggs were placed into the hatchery.