Norwegian Food Safety Authority approves $100 million hatchery investment in Vevelstad.
The Norwegian Food Safety Authority has approved Vevelstad Settefisk’s application to begin large-scale juvenile salmon production at Lauknes in Vevelstad municipality, paving the way for a NOK 1 billion ($100 million) investment.
The project, led by Vevelstad Settefisk CEO Knut Bråthen, is expected to create between 20 and 30 jobs and produce 15 to 20 million smolts annually, ranging in size from 150 grams to one kilo.
“We will now build a ground-breaking hatchery in the heart of Nordland,” said Bråthen.
The facility has already received a discharge licence from the state administrator in Nordland, and the site is zoned and approved for aquaculture. Construction is expected to begin shortly.
“There is a shortage of hatchery fish, and we know demand will increase in our catchment area,” Bråthen added.
Vevelstad Settefisk is owned by Aquaculture Innovation, a subsidiary of Torghatten Aqua, based in Brønnøysund.