Icelandic fisheries and processing giant Sildarvinnslan expects an ISK 4.3 billion (€28.6 million/$29.4 million) expansion of its Neskaupstadur fishmeal plant to be fully operational in the first quarter of 2023.

The expansion of the project, unveiled in January 2021, is taking place in two phases, with the aim of reaching 2,380 metric tons of production capacity.

The original price tag for the plant expansion was €27.5