Aquaculture infrastructure provider Froy Group is investing NOK 2.6 billion (€254 million/$307 million) in the next two years on a vessel newbuild program as demand surges for its services, according to a stock exchange announcement.

Norwegian aquaculture conglomerate NTS, owner of Midt-Norsk Havbruk and the largest shareholder in Norway Royal Salmon, split off the aquaculture logistics and service division from its salmon farming operations to position Froy for further growth.