Spains’ first land-based salmon farm gets €1 million boost

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Confidence from regional investors Sodercan in Norcantabric – who want to provide 5 per cent of Spain’s demand for salmon.

Financial Food reports that Norcantabric has received a EUR 1 million investment from regional investors Sodercan (The Society for Regional Development of Cantabria).

Norcantabric is building a RAS salmon farm in northern Spain for 3,000 tonnes of salmon at a site that it bought for EUR 1.3 million from public company SICAN in November last year. The building is set to start this year.

The project is set to cost EUR 31 million.

The Minister of Industry and President of Sodercan, Francisco Martín, said that that RAS salmon farm is a great opportunity for Cantabria, “not only because of the volume of employment and investment that this initiative implies but because of the multiple possibilities that offer the salmon market in Spain, which consumes 70,000 tonnes a year”.