AKVA signs deal to build land-based farm in Sweden

Aquaculture technology business AKVA has signed a deal to design a land-based salmon farm in Sweden.
The facility will be owned and run by Premium Svensk Lax (PSL), a Swedish company that has developed a zero-emissions approach to land-based fish farming. In September, PSL gained approval from Swedish regulators for a farm with annual production of 10,000 tons of salmon.
PSL’s CEO and founder, Sanja Miljevic, said in September: “Sustainable and environmentally friendly salmon farming with zero emission has been our vision from day one and receiving this approval confirms that our project a criteria and is in line with Sweden’s environmental goals.”
AKVA group Land Based A/S, a wholly owned subsidiary of AKVA group ASA, has signed an engineering and design contract with regard to the facility. AKVA has been chosen as the preferred supplier and the final delivery contract, if awarded, has a value of approximately €95 million.
AKVA’s equity participation in the project up to NOK 30 million is subject to PSL obtaining the necessary financing for the project and agreement on a final delivery contract. AKVA says.
The farm, which will be inland rather than coastal, is planned with 88 tanks to accommodate different growth stages from first feed to big grow-out tanks, up 25 metres in diameter. Once production is at full capacity, PSL says it will be able to provide as much as 20 per cent of Sweden’s domestic demand for salmon.