Danish land-based salmon farmer Nordic Aqua Partners is planning to accelerate expansion plans for its facility in eastern China.
This is after a strong biological performance of the company’s first batch of salmon at its facility in Ningbo. The batch reached an average weight of 400 grams, according to the company’s first quarter report.
Construction of the first stage with a capacity of 4,000 metric tons began in the first quarter of 2021. Construction of stage two – an additional 4,000 metric tons – was originally scheduled for the second quarter of 2024, but with new capital in place, construction could begin in the fourth quarter of 2023.
“We have made excellent strides during the first quarter,” Chairman Ragnar Joensen said.
“All batches performed biologically as expected or even better, with high survival and good growth rates.”
Plans are in motion to potentially accelerate expansion to reach a capacity of 20,000 metric tons by 2027. This is according to the quarterly report.
The company, which has shifted its headquarters from Denmark to Norway to improve access to capital, ended the first quarter with 439 million DKK ($64 million).