Fledgling Norwegian company Norsal unveiled plans on Saturday to build a $400 million (€333 million) land-based salmon farm in Yantai, China.
Norsal -- headquartered in Stavanger, Norway -- is planning to kickstart the project in the first quarter of 2021, said chairman Heidi Burgstein during a digital signing ceremony.
In the first phase of the project, Norsal will spend $198 million (€165.1 million) to construct the hatchery, growth tanks and processing facility with a capacity to produce 10,000 metric tons per year.
