Måsøval shelves semi submersible project

Fish farming company Måsøval has decided to postpone the start of its high profile Aqua Semi project due to the government’s proposed ground rent tax on aquaculture.

The announcement came in a statement to the Oslo Stock Exchange.

Aqua Semi (pictured) is a semi-submersible, semi-enclosed salmon production unit built in steel. The unit has tight steel walls down to a depth of 25 metres and has all operating functions integrated. It is designed to significantly reduce the risk of escapes, lice and other waterborne infections. Måsøval has said the system will contribute to better fish health and faster growth.

Apologising for the impact the decision will have on suppliers, the company said: “As a result of the proposed ground rent tax, Måsøval has chosen to postpone the implementation of the Aqua Semi concept.

“Aqua Semi is designed to open up new areas for salmon farming, reduce lice and disease contagion and improve fish health. The pre-project is now finalised and the unit is ready to be built.

“The government’s proposed resource tax on aquaculture represents an unacceptable risk for the project. Måsøval AS has therefore decided to postpone a decision to start the project.”

Aqua Semi was due to be located at Fagerholmen in the Frøy Fjorden when it has been built, an area that has strong ocean currents, ensuring a good supply of fresh and nutrient-rich water.

The area has climatic challenges that make it unsuitable for small, traditional facilities. Aqua Semi is constructed to withstand weather and wind, but the industry has found that large facilities can have unique challenges.

Located in Central Norway near Trondheim, Måsøval has significant farming operations at sea and in-house smolt production facilities.