Salmon Evolution to begin expansion in Q3

Editorial Staff

Preparation will commence shortly, with construction expected to start later in 2024.

Leading land-based salmon farmer Salmon Evolution has announced the advancement of its Indre Harøy phase 2 project following a successful private placement of approximately NOK 365 million ($34 million) and an increase in bank facilities by NOK 675 million ($63 million), as reported on 18 June 2024.

The company has made the final investment decision and signed an agreement with Artec Aqua and Hent to move the phase 2 grow-out project into the construction phase.

Concurrently, the company is proceeding with planning and engineering for additional tank capacity, although no final decisions or agreements have been made for this part of the project.

“We are now creating a foundation for substantial profitable growth, and with phase 2 in full operation, we will have a strong cash-flow generating platform with significant annual investment capacity,” said Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution


Related Articles