Arctic Offshore Salmon Farm to Come Online in Late 2020
Norway Royal Salmon is on track to begin output from its Arctic Offshore Farming development project in 2020, CEO Charles Hoestlund told Reuters on Tuesday."We are on track to begin output of small salmon in autumn 2020 (and then it takes 1-2 years before harvesting)," Hoestlund said while presenting the company's second-quarter earnings."Investments are in the range 625-650 million Norwegian crowns ($74-$77 million) for two facilities with 3,000 tonnes of salmon in each of them," he said.Norway Royal Salmon was awarded development licences this year to produce up to 5,990
Norway Rejects Plan for Fish Farming on 'World's Largest Ship'
, to house a giant fish farm off the coast of Norway.Development licenses are part of an initiative by authorities to spur growth in Norway's salmon production.Norway is the world's largest fish farmer, with major producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon.(Reporting by Terje Solsvik, editing by Gwladys Fouche