Chilean company Boreal Salmon said it needs CAD 60 million in investment.
Saltwire reports that the municipality of Yarmouth in Nova Scotia, Atlantic Canada, is considering an application from Boreal Salmon to establish an open flow land-based salmon farm.
The site, based at Chebogue Point, is set to cost CAD 60 million (EUR 45 million) and will produce up to 5,500 tonnes of Atlantic salmon and/or sea trout annually.
Three adjacent land parcels for the proposed salmon farm were purchased in March.
“The project will be financed primarily by Chilean investors, with Canadian investors being invited to participate,” the publication wrote.
Boreal Salmon’s plan is to build and operate the land-based aquaculture facility using a flow-through system.
Once approved, the company said that the construction phase of the project could begin later this year, stocking the first fish in late 2022.