First Water awards NOK 55 million contract to Norwegian supplier Overhalla Betongbygg

Norwegian construction company Overhalla Betongbygg has secured a NOK 55 million (EUR 5m/USD 5.7m) contract to supply prefabricated concrete elements for First Water’s land-based salmon farm in Iceland.

The delivery will form the final part of the first development phase at First Water’s site in Þorlákshöfn. It includes components for eight fish tanks, each measuring 28 metres in diameter and 9.5 metres high, with capacity for approximately 5,600 cubic metres of water.

Around 4,300 tonnes of concrete elements will be manufactured at Overhalla Betongbygg’s facilities in Norway and transported to Iceland in early 2027.

“This is a contract we are proud of. It shows that Norwegian industrial expertise and prefabricated concrete solutions from Overhalla are competitive also outside the country's borders. Such projects mean a lot for the further development of the company, for our workplaces and for the expertise we build up every single day,” said Overhalla Betongbygg CEO Arnt Ove Amdal.

First Water currently has annual production capacity of around 5,000 tonnes of head-on gutted salmon. According to the company, completing the first phase will raise this to 10,000 tonnes.

The wider project is planned across six phases and is targeting eventual annual production of 60,000 tonnes. First Water’s own project information confirms that it remains in the first phase of the development.

First Water CEO Eggert Þór Kristófersson described the farm as a project "designed to set a new standard for sustainable aquaculture."

“When the first phase is completed, our current production capacity will double from 5,000 to 10,000 tonnes of gutted salmon. The facility will eventually be expanded in six phases, with a target annual production capacity of 60,000 tonnes,” Kristófersson said.

Overhalla Betongbygg said the companies have been working together on the technical design and delivery arrangements. Transporting the concrete elements from Norway will require detailed planning because of the weight and scale of the shipment.

“We see this as the start of a new and exciting chapter. For us, this is about exports, jobs and taking the experience from the Norwegian aquaculture and concrete industries into new markets. We look forward to a good collaboration with First Water for a long time to come,” Amdal added.

In April this year, as previously reported by WeAreAquaculture, First Water announced it had raised ISK 11 billion (EUR 76.6M / USD 89.9m) in financing, which Kristófersson said would enable the company to fully complete the construction of its Phase 1 facility, anticipating a "significant increase" in export revenues as production ramps up and construction continues.