$50M Norwegian investment planned in Spanish town suffers setback

The future of a $50-million (€50 million) investment from Norway is in jeopardy after the local water authority declared the potential site as prone to floods and therefore not suitable for the installation of a salmon farm.

The operation was to include a fattening farm, a processing plant and an R&D center in the town of Llanes in northern Spain.

In addition, the farm was designed with the latest recirculation technologies in aquaculture – offering the maximum guarantees of well-being, minimum consumption of resources and better impact on the environment, reported news outlet Mispeces.

The project had the support of the local council because of the economic boost it would have brought the town, including the creation of 80 direct jobs.

The result of months of negotiations between the Norwegian investors and the water authority of Cantabria has frustrated the unnamed Norwegian investors and the town council, the report said.

The water territory of Spain is divided among nine river basin authorities known as “hydrographic confederations.” The town of Llanes falls under the jurisdiction of the Hydrographic Confederation of Cantabria, which declared the potential site as unsuitable.


Related Articles