Andfjord Salmon is making great strides in the expansion of its land-based aquaculture facility in Kvalnes, Andøya, Norway, which is ready for the next phase of construction.
The summer has been a crucial period for the progress of Kvalnes. During these months, there has been a flurry of activity at the facility, with contractors carrying out extensive work on much of the necessary groundwork. So much so that a concrete injection to stabilize the sections surrounding the 12 pools that make up the next phase of construction at Kvalnes is now ready. This preparatory work is the first step in accelerating blasting and excavation.
The way to make all this possible has been the start of mobilizations of equipment and personnel in conjunction with subcontractors during the first harvest at the end of June and the beginning of July. In addition, at the same time, the main contractor, AF Hæhre-Contur, prepared the designated areas for machinery, equipment, and tools, complementing the ongoing preliminary work. All the machinery is now there ready for the next phase of construction.
"By timely executing our first harvest as scheduled in June/July, we substantially mitigated project execution risks for our expansion," said Martin Rasmussen, CEO of Andfjord Salmon. "Our primary objective is to increase production capacity to 8,000 tonnes by 2025, accompanied by increased revenues and cash flow. I'm truly impressed by the swift progress achieved thus far."
Andfjord Salmon also explained that, in addition to the port infrastructure, the company will establish waterways to support the production of 40,000 tons of salmon at Kvalnes. The plan is to start with the pre-cutting of navigable waterways, followed by tunneling activities in September.
"Our approach essentially involves constructing an ocean-like fish enclosure on land. We leverage bedrock and topography to ensure a development that is both predictable and expeditious. This integration of land-based and ocean-based fish farming is a distinctive aspect of our approach here at Andøya," said Rasmussen.
Andfjord Salmon has disclosed some key information regarding its expansion plans. Their objective is to progressively increase their production capacity to 40,000 tons (HOG) by 2030, with incremental growth from 2025 onwards. They aim to achieve an initial volume of 8,000 tons (HOG) by the year 2025.
Andfjord Salmon has developed an innovative and sustainable aquaculture concept for land-based farming of Atlantic salmon. Located at Kvalnes in Andøya, Norway, the company's ambition is to build the world's most sustainable and fish-friendly aquaculture facility. Moreover, Euronext Growth lists Andfjord Salmon AS.
