Atlantic Sapphire highlighted the possible impact of cost increases on the second construction phase of its Miami land-based salmon farm.

Its second quarter update put the current estimate for capital expenditure for the phase at between $275 million-$300 million (€275 million-€300 million). The project's development has suffered continued setbacks, including the impacts of a concrete shortage earlier this year.

The company's current estimate on completion is the first half of 2024, prioritizing "quality and cost optimization over building speed," it wrote in its report, released Friday.