The fish farming division of Icelandic fishing giant Samherji has agreed to buy the assets of Nordural, a subsidiary of Century Aluminum, and Samherji Fish Farming.

Nordural an aluminium smelter in Grundartangi, West Iceland planned to build a smelter in Helguvik, acquired land and built some structures.

Samherji Fish Farming is currently mulling the possibility of salmon farming at Nordural's site Helguvik in the Reykjanes Peninsula.

In the coming weeks, executives will also assess the feasibility of building a salmon farm on properties in Helguvik.