Akva Group Denmark won the contract for delivery of a €11.9 million smolt plant to Russian Aquaculture in Murmansk, as part of the company's larger investment in land-based smolt production in the region.

Russian Aquaculture, the country’s largest aquaculture company is investing a total €25 million ($28 million) in the facility, Yuri Kitashin, general director of the company, told IntraFish in April.

Producing around 5 million smolt per year, the facility will exclusively supply the company’s farms in Russia.

The final contract is not yet concluded and is, amongst others, subject to financing and regulatory approvals in Russia, reported Akva in a release to the Norwegian Stock Exchange.