Nutreco-backed land-based salmon farmer Nordic Aqua Partners, which is building a land-based facility in Ningbo on China's east coast has raised an extra NOK 300 million (€27.1 million/$29.1 million) to accelerate its plans and double production capacity.

The group made a private placement of more than 4.6 million new shares at an offer price of NOK 65 (€5.90/$6.30) per share, it said in a stock exchange announcement on Thursday.

Funds raised will be used to accelerate the project and expand the production capacity from 4,000 metric tons per year to 8,000 metric tons per year at the facility in China.