Increases production target by 10,000 tonnes.
Nordic Aqua Partners presented its report for the second quarter on Friday morning. As the company does not have fish in production, the income statement is of limited interest. What is more interesting is what the company says about growth plans going forward.
The first harvest of fish is expected to take place during the first quarter of 2023. According to the Danish fish farming company, led by ex-Mowi director Ragnar Joensen, the activities are on schedule.
The first construction phase is fully financed and construction work in Goatang, near Shanghai, is underway. The second construction phase will be financed by a combination of debt and equity from earnings at construction phase 1.
The first and second construction stages will yield 8,000 tonnes of salmon annually, divided into two equal modules. A novelty, however, is that the company is raising the production plan for the third construction phase, from 8,000 tonnes to 12,000 tonnes in 2027, which means a total of 20,000 tonnes in this plant.
In the longer term, the production target has been raised from 40,000 tonnes to 50,000 tonnes. However, no exact timetable has been published. For this, the potential for facilities in Beijing and Hong Kong is mentioned.