Iceland’s highly-anticipated aquaculture bill has been submitted to parliament, paving the way for three rounds of debate over a policy that envisions nearly $1 billion (€923 million) in investment by the end of this decade.

The proposal by Iceland’s Ministry of Food, Agriculture and Fisheries is intended to take a holistic approach toward aquaculture, covering land-based and offshore farming, with the aim of growing the value of the sector in a sustainable manner.

“It is clear that there is a great need for investment to develop the industry further,” the ministry wrote in its 150-page bill, which was submitted to parliament on March 27 and is likely to be presented next week by Svandis Svavarsdottir, Iceland’s minister of food, agriculture and fisheries.