Vevelstad, Norway-based Vevelstad Settefisk has won regulatory approval from the Norwegian Food Safety Authority (Mattilsynet) to build a NOK 1 billion (USD 98.4 million, EUR 86.9 million) salmon hatchery.
CEO Knut Bråthen said that the company had “been waiting for this go-ahead."
"We will now build a ground-breaking hatchery in the heart of Nordland," he said.
Construction work will soon start on the 100-acre site now that the zoning, approval, and regulatory processes are complete.
Bråthen explained that a shortage of hatchery fish, as well as demand that is expected to increase in coming years, necessitates the building of the facility.
“The hatchery fish that will be produced will be attractive to many,” he said in a press release about the news.
In the same announcement, the company also said that it expected the new land-based facility to produce between 15 million and 20 million smolts, sized from 150 grams to 1 kilogram, per year.
It will also generate up to 30 jobs in Vevelstad, a 500-person town where “the establishment will mean a lot,” Bråthen said.
“Our investment will strengthen Vevelstad's position as an innovative player in the aquaculture industry, create specific jobs, and give the entire region an economic boost," he said.
Vevelstad Settefisk is owned by aquaculture consultancy and commercialization company Aquaculture Innovation, which is itself owned by maritime business investment agency Torghatten Aqua.
Another Norwegian Aquaculture Innovation property, Helgeland Miljofisk, was also recently granted regulatory approval for a land-based salmon farm on the northeastern island of Toftoya.
That project, which will generate up to 40,000 metric tons (MT) of salmon yearly and is expected to produce between 200 and 300 jobs for the area, was initially rejected by Mattilsynet. The company appealed, and the food safety organization said that it changed its ruling thanks to new information offered by the company about disease protections and environmental impact.
Helgeland Miljofisk is now awaiting the approval of Nordland County, marking the final step in the approval process.
