Nordic Halibut has secured NOK 230 million (€19.6 million/$21.2 million) in financing for its new land-based whitefish farm in Tingvoll, Norway.

The financing enables the company to realize Phase 2 of its growth plan, which will push production to 10,350 metric tons head-on-gutted by 2031, more than doubling existing production capacity.

The construction financing was secured with Sparebank 1 SR-Bank and Sparebank 1 Nordmore in a syndicated deal with SR-Bank as agent.

The long-term financing has been established with Innovation Norway, Eksfin, Sparebank 1 SR-Bank and Sparebank 1 Nordmore.