Australia’s aquaculture firm Tassal is investing AUD 46 million (€28.1 million/$31.2 million) into a smolt hatchery expected to be commissioned by 2022.
On Tuesday, Tassal reported strong earnings and said an increase in operational cashflow is allowing further investment in the salmon business.
The multi-purpose recirculated aquaculture system (RAS) facility will allow the company to produce 1 kilogram size smolt or to produce more smolts than it is currently producing, it said.
The company has already acquired the land for the facility and the approval process already started.
