First Water: €55m contract signed for 60,000-tonne Iceland RAS facility

First Water targets 60,000 tonnes annual output at full build-out. Photo: First Water

Norwegian concrete manufacturer Overhalla Betongbygg has signed a €55 million contract with Icelandic land-based aquaculture company First Water to supply prefabricated concrete elements for its facility in Thorlákshöfn, Iceland.

The contract covers eight large fish tanks, each 28 metres in diameter and 9.5 metres tall, with a water capacity of approximately 5,600 m³ per tank. The total shipment weighs around 4,300 tonnes.

The components form the final part of First Water's phase one build. Once complete, the site's production capacity will double from 5,000 to 10,000 tonnes of Atlantic salmon, the company said.

First Water plans six phases in total, targeting annual production of 60,000 tonnes, according to CEO Eggert Thor Kristofersson.

Overhalla Betongbygg will manufacture the elements at its facilities in Namdalen, Norway, with delivery to Iceland scheduled for early 2027.

"This is a contract we are proud of. These types of projects are very important for the future development of the company," said Arnt Ove Amdal, CEO of Overhalla Betongbygg, in a press release.

What to read next