Land-based salmon farmer Salmon Evolution said the first phase of construction at its Norway facility is progressing according to plan and is both “on time and on budget” in its second quarter report on Thursday.

The company remains on target to place fish in tanks at its Indre Haroy by March 2022, according to CEO Hakon Andre Berg.

Total capital expenditures on the project during the quarter were NOK 172 million (€16.4 million/$19.1 million), of which NOK 168 million (€16 million/$18.7