Salmon producer Norway Royal Salmon (NRS) is targeting a 43 percent increase in production in its Norwegian salmon farming operations, the company said in an update on Thursday.
The group expects to harvest around 35,000 metric tons in 2022, but said production would rise to 50,000 metric tons in 2023 as it makes adjustments under Norway's maximum allowed biomass (MAB) regulations.
In addition, the group expects to gain access to more high-quality smolt from its new facility.
Harvest volumes from Iceland, through part-owned subsidiary Arctic Fish, are projected to be13,000 metric tons in 2022 and in 2023, but the company is expecting to ramp this up to around 24,000 metric tons in 2025.
NRS harvested 49,600 metric tons of salmon in 2021, shy of its projected volume of 52,000 metric tons.
In the fourth quarter, the company said it harvested a total of 13,200 metric tons: 10,300 metric tons in Norway and 2,900 metric tons from its Iceland operations.
Last year was an eventful one for NRS.
Most notably, Norwegian aquaculture conglomerate NTS became the majority owner of NRS following a heated battle with fellow salmon giant SalMar for control of the company in August.
Earlier this month, those plans came to fruition with NRS entering into a share purchase agreement to acquire 100 percent of the shares in SalmoNor from NTS.
The deal would creating the world's sixth-largest salmon farmer with the potential to produce around 100,000 metric tons of salmon in Norway and 24,000 metric tons in Iceland.
NTS is now in the middle of a takeover battle, with salmon giant Mowi putting in a NOK 13.8 billion (€1.4 billion/$1.6 billion) offer for the group last week.
Also in January, NRS launched its first sea cage for its Arctic Offshore Farming project, marking a landmark moment for the group and another step forward in the fast-moving offshore salmon farming sector.
NRS’s full fourth quarter report will be released on Feb. 23.
