AKVA signs major deal with Icelandic farmer

The deal involves the design and delivery of a smolt facility at Westman Islands in Iceland.

AKVA says the smolt facility will be developed in three phases and will, when fully completed, provide a production capacity of 15 million smolt per year at 100 grams to support Laxey’s post-smolt and grow-out production.

The contract awarded covers all three phases and has a total value of approximately €28m (£24m).

The realisation of the contract and AKVA’s delivery is subject to Laxey obtaining the necessary financing and this condition is expected to be met during the second quarter of this year.

Laxey operates a land-based salmon farm in western Iceland and continues its phased expansion, with a strong focus on the sustainable production of Atlantic salmon.

Laxey, an Icelandic land-based salmon farmer based in Vestmannaeyjar, on an island off Iceland’s south coast.

It is now just over three years since the first excavations to kick start the project took place.

The AKVA group ASA is a global technology and service partner that deliver technology and services that helps solve biological challenges within the aquaculture industry.

AKVA is the largest sea and land based aquaculture support company with base wherever there are major salmon farming operations.

It is only just over a couple of weeks ago that AKVA announced it was carrying out a major review, which may lead to a sale of the business.