Grieg Seafood said it is searching for long-term partners to help it build its Canadian salmon farming operations.

Canada, and in particular eastern Canada, is one of the few salmon farming regions globally with a significant untapped growth potential and proximity to one of the largest and fast-growing markets.

"Grieg Seafood aims to realize the potential of sustainable growth in Canada," the company said in a stock exchange release Monday.

"However, developing the Canadian operations require substantial investments at a time when the resource tax and overall inflation requires greater capital discipline," it said.