Norwegian aquaculture equipment supplier Akva said Friday it has been chosen to supply the full grow-out recirculating aquaculture system (RAS) for Nordic Aqua Partners, which plans to construct a land-based salmon farm in Ningbo on China's east coast.
Nordic Aqua Partners plans to harvest 8,000 metric tons in the country by 2026, according to the companies.
"The realization of the project and Akva's delivery is dependent upon certain conditions to the project’s equity financing, which is scheduled to be concluded in January 2020," Akva said.
The project is estimated to be worth NOK 500 million (€50 million/$56 million) for the time period of 2020 to mid-2023.
Akva is also contributing €3.1 million ($3.5 million) "to increase its opportunity for a close follow-up on all technical, operational and biological performance measures, to ensure successful project delivery."