Land-based salmon farmer Proximar Seafood has received a loan offer from a Japanese bank for a post-construction loan.

The JPY 4 billion (€ 28 million/$29 million) loan offer was approved on Dec. 28 and is intended to help finance Proximar’s planned 5,300 metric ton salmon farm at the foot of Mount Fuji in Japan.

The loan can be available for drawdown in the end of 2024, following the company’s first planned harvest in mid-2024.

"Securing debt financing is a key priority for Proximar," Pcompany CEO Joachim Nielsen said.