Gigante Salmon fired its chief executive on Tuesday after reporting a significant cost overrun at its land-based salmon farm in northern Norway, the second time in six months that the company has revised the cost of building the facility.

Helge Albertsen has left the role of CEO but will continue to serve as an adviser to the company, Gigante Salmon said in a statement.

In a separate statement, Gigante Salmon said earlier on Tuesday that the cost of building the land-based salmon farm at Rodoy, in Nordland county, would rise by NOK 350 million (€30.1