Icelandic seafood giant Samherji said Friday it has started work expanding its existing land-based salmon and char farming operation in Oxarfjordur, in the northeast of the country.

The project will increase production to 3,000 metric tons per year, doubling the output of the existing site. The cost will be close to ISK 2 billion (€13.9 million/$15.5 million).

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The Akureyri, Iceland-based company is planning to invest more than ISK 45 billion (€312.5