Oslo-listed Norway Royal Salmon (NRS) invested NOK 750 million (€76.7 million/$86.8 million) in a new land-based smolt facility in northern Norway.
The recirculating aquaculture system (RAS) unit will produce up to 10 million smolt of 400 grams each.
The project Arctic Offshore Farming in Dåfjord, Karlsøy, is expected to create around 20 local jobs.
NRS contracted Norway-based TotalRenovering and Aqua Optima to kick off constructions of the offshore project this September.
