Phase 2 development of Atlantic Sapphire's Miami salmon production site will be delayed because of concrete shortages and inflationary costs. The company will need more than the remaining $62 million (€59 million) to complete the work.
According to the company, labor, truck drivers, and supply issues are the reasons for shortages. Besides, increased demand as the country emerges from the COVID-19 pandemic. Consequently, 2023 will suffer more spending. Executives try to work out how long delays will last and a new timeline.
Thereby, Atlantic Sapphire hopes to handle fish by early 2023 under its Phase 2 expansion. Upon completion of the expansion, the company expects it will be producing 25,000 metric tons.
Also, an installation of a new filleting line, scheduled for June, will try to impact second-quarter production. Hopefully, the third quarter will experiment with 500 metric tons.