Construction agreement reached on USD 2 billion Swedish land-based salmon farm

Published on
April 8, 2021

Quality Salmon Sotenäs AB – owned by Lighthouse Finance – and Finnish-headquartered construction company Uponor Infra Oy have signed a letter of intent to plan and construct a new land-based salmon farm, to be located outside the city of Kungshamn, in the municipality of Sotenäs on Sweden's west coast.

Once fully developed, the Quality Salmon Industry Park will produce up to 100,000 metric tons (MT) of Atlantic salmon per year. According to the company, it will operate almost entirely under a circular economy scheme, including feed factory, salmon farm, slaughter, processing, management of residual products, and water purification.

“Investing SEK 17 billion to SEK 20 billion [USD 2 billion to USD 2.3 billion, EUR 1.7 billion to EUR 2 billion] in the circular industry park and aiming for a future production of 100,000 MT of salmon per year demonstrates our level of ambition pretty clearly. We want to do more than just promote the production of salmon. That is why we have chosen to partner with Uponor as we share a mutual vision that sustainability and innovation are key drivers for [the] success and development of Quality Salmon,” Lighthouse Finance CEO Roy Høiås said in a press release.

As part of the initial phase of construction, Uponor Infra will pre-design a solution for marine intake pipelines and underground process water pipelines. After all of the environmental assessments and legal requirements are in place, Uponor Infra will design and build the entire water management solution for an area of 140 hectares.

"We are pleased to collaborate with Quality Salmon to create the largest land-based sustainable salmon farm. From marine intake pipelines to a comprehensive water management solution, empowering Quality Salmon's advanced recirculating aquaculture system reach its fullest potential,” Uponor Infra President Sebastian Bondestam said.

Founded in 2013, Lighthouse Finance has financed fish farms, integrated aquaculture systems, and large-scale fishing and logistics vessels in Europe, North America, and Asia.  

Photo courtesy of ricok/Shutterstock

Contributing Editor reporting from London, UK

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