Norwegian salmon producer Masoval said Thursday it is suspending development of its novel Aqua Semi concept as a consequence of the "unacceptable risk" posed by the Norwegian government's proposed tax on salmon farming.

In 2019, Masoval received four licenses to develop the Aqua Semi concept, a semi-submersible salmon farm with a closed roof.

The project's plans are now finalized and the unit is ready to be built, but whether this will ever go ahead is now uncertain.