Norwegian salmon farming giant Grieg Seafood on Thursday said it had been granted five licenses to farm in Newfoundland and Labrador, giving the company approval to farm 30,000 metric tons of Atlantic salmon in the area.

Grieg Seafood's proposed Placentia Bay project will be comprised of 11 sea sites. The company was already approved for three licenses earlier this year.

In February Grieg Seafood acquired Grieg Newfoundland, Canada, with a long-term annual harvest potential of 30,000-45,000 metric tons of Atlantic salmon.