Land-based salmon farmer Proximar Seafood has hired Norwegian investment banks ABG Sundal Collier and Pareto Securities as financial advisors to advise the company on its future funding needs.

Last month, the Per Grieg-backed company said it needed to raise NOK 165 million (€13.9 million/$14.8 million) to cover soaring construction costs at its Japanese facility due to soaring costs.

The project's total cost has increased to NOK 1.24 billion (€104.2 million/$111.3 million), up from NOK 1.195 billion (€100.5 million/$107.2 million) in the second quarter -- a 17 percent increase from start of construction two and a half years ago.