Oslo-listed Grieg Seafood is investing in land-based salmon farming with a 30 percent stake in a joint venture named Ardal Aqua.
Ardal Aqua will build a 5,000 metric ton facility in Rogaland, southern Norway, producing post-smolt and harvest size salmon, with the goal of expanding capacity in the future.
"Through our post-smolt investments we have acquired competence on how to produce larger fish on land," CEO Andreas Kvame said.
