January 30, 2018 / 4:13 PM / 6 months ago

Nordic Aquafarms plans land-based salmon farm in U.S. state of Maine

OSLO, Jan 30 (Reuters) -

** Norway’s privately held Nordic Aquafarms (NAF) has entered into agreements for a property in the U.S. state of Maine where it plans to develop a large land-based salmon farm

** NAF plans an initial capacity of 13,000 tonnes per year and to gradually raise this to 33,000 tonnes per year (66 million pounds), equal to approximately 8 percent of U.S. consumption of salmon

** The project will involve all-in investments between $450 million to $500 million by the time it is complete

** The first phase will involve investments of up to $150 million

** The facility will be an end-to-end operation, including hatcheries and fish processing

** The agreements are for a 40 acres property in the outskirts of the town of Belfast, which has approximately 7,000 residents

** NAF will now proceed with final due diligence, planning and permitting for the facility. Construction start is planned in 2019 (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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