Norwegian seafood farmer the Grieg Group has entered into an agreement with a Canadian seafood company to build “a major new salmon farming operation” in Newfoundland and Labrador.
Grieg, which has a local division known as Grieg Newfoundland, is partnering with Ocean Choice International to build the CAD 250 million (USD 189.7 million, EUR 171.4 million) farm, which will be based in Marystown and nearby Placentia Bay, according to statements from both companies. In its statement, Ocean Choice called the partnering “a great opportunity.”
The plan, according to the statements, will be for the land-based smolt facility to produce 4 to 5,000 metric tons (MT) in annual production, and the sea-based portion is expected to produce more than 30,000 MT in salmon annually.
"We believe the province can be developed into a substantial producer of fresh salmon products for the whole North American market,” said Per Grieg Jr. of the Grieg Group. “There is a continuous and increasing demand for high-quality salmon, and we believe that Newfoundland and Labrador can supply this.”
The Newfoundland and Labrador provincial government has also pledged involvement, offering up to CAD 45 million (USD 34.1 million, EUR 30.9 million)
"Over the past decade we have seen significant growth in our province's aquaculture industry, which continues to expand and diversify rural economies through direct and indirect jobs, and benefits to businesses,” said Keith Hutchings, Minister of Municipal and Intergovernmental Affairs. “This MOU sets the stage to make Newfoundland and Labrador the largest aquaculture producer in eastern Canada.”
The companies expect the hatchery will be completed in 2017 and processing and sales will begin one year later.
