Icelandic seafood behemoth Samherji announced Friday that it more than doubled its earnings last year, a welcome windfall given its plans for a mega land-based salmon farming operation, which is now projected to cost over €100 million ($110 million) more than initially thought.

Samherji, which operates across the entire seafood value chain, from fishing, aquaculture, processing and sales announced in June 2021 that it would invest more than ISK 45 billion (€322.6 million/$329.7 million) into the new salmon farming facility in Reykjanes over the next few years.