Norwegian salmon producer Nova Sea will build a new processing plant to significantly boost its harvesting capacity.

The company plans to more than double its processing capacity from 50,000 metric tons to as much as 125,000 metric tons with the new facility. The the company is expected to invest investment approximately OK 1 billion (€99 million/$113 million) in the facility.

"Such a large investment will have major ripple effects for other businesses in the region, and will be important for the further development of local community," Nova Sea Chair Aino Olaisen told IntraFish.