Rasmussen says: "By timely executing our first harvest as scheduled in June/July, we substantially mitigated project execution risks for our expansion. Our primary objective is to increase production capacity to 8,000 tonnes by 2025, accompanied by increased revenues and cash flow. I'm truly impressed by the swift progress achieved thus far."
Office barracks have been established at Kvalnes for the project administration, and a site has been prepared for concrete production. In addition, Andfjord Salmon’s Breivik site is being prepared to receive accommodation barracks.
Extensive preparation work was carried out at Kvalnes prior to the first release of smolt last year in order to prepare the area for the upcoming construction phase.
Last week, Kvalnes received the machinery, drilling equipment, dumper trucks, and wheel loaders necessary for excavating the initial twelve pool pits and transporting materials to the port area. A mass balance approach is being adopted, whereby excavated masses from pool pits and waterways will be utilised for port and quay development.
Jostein Nilssen, Andfjord Salmon's project director, says: "The machinery is already being used to remove and transport excavated masses to the port area. The efforts undertaken in 2021 and 2022 are yielding remarkable efficiency gains at present."
In addition to the port infrastructure, Andfjord Salmon will establish waterways to support the production of 40,000 tonnes of salmon at Kvalnes. The plan is to commence waterway pre-cutting, followed by tunnelling activities, in September
Investors: Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345, email@example.com
Media: Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665, firstname.lastname@example.org
ABOUT ANDFJORD SALMON
Located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable aquaculture concept for land-based farming of Atlantic salmon, based on a flow-through technology solution. The company's ambition is to build the world's most sustainable and fish-friendly aquaculture facility of its kind.
Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.