Norwegian salmon farmer Gigante Salmon AS has confirmed that with the design of its production pools now optimized, construction of its first land-based salmon facility on Lille Indre Rosøya is underway.
“We have devised a way to reduce our physical footprint while maintaining the planned production capacity,” Gigante Salmon CEO Helge E.W. Albertsen said.
The altered orientation of the production pools, which has been approved by Rødøy Municipality, will result in the facility being less visible from the water, Albertsen said.
“Now it blends even better into the surrounding terrain,” he said.
Work establishing the Lille Indre Rosøy facility began on 1 September, with the investment budget of NOK 445 million (USD 51.8 million, EUR 44.2 million) remaining unchanged.
“I am very pleased that the construction work is proceeding as planned,” Albertsen said.
On 28 June, 2021, the company announced the successful completion of a NOK 222 million (USD 25.8 million, EUR 22.1 million) private placement. It was approved for trading on Euronext Growth Oslo on 5 July, 2021, under the ticker symbol GIGA. With no revenues generated to date, the Bodø, Norway-headquartered company has reported an operating loss of more than NOK 1.5 billion (USD 174.5 million, EUR 149.1 million) for the first-half of 2021.
Gigante Salmon’s Lille Indre Rosøya facility is based on a flow-through system. At full production, it will be able to produce 20,000 metric tons (MT) of salmon. It currently has permission to produce up to 13,731 MT of fish. Production is expected to begin in the second half of 2023.
Gigante Salmon is part of the Gigante Group, owned by Gigante Havbruk AS, which has been involved in salmon farming since 1988.
Photo courtesy of Gigante Salmon
