Andreas Kvame, CEO of Grieg Seafoods - Joe Gibbons
Some of that money will be earmarked for development of aquaculture sites in the Bays West, an area stretching along the province’s south coast from Bay D’Espoir to Burgeo and Port aux Basques. According to a government press release at the time, “The Bays West area . . . has the potential to produce 15,000 to 20,000 metric tonnes of Atlantic salmon and create employment and economic development, particularly on the island’s southwest coast.”
Meanwhile, the company said it has frozen its growth investment plans for Norway, pending that government’s final decision on the implementation of a resource rent tax https://www.saltwire.com/atlantic-canada/business/could-a-tax-decision-in-norway-stall-a-newfoundland-salmon-farm-100778241/for aquaculture.
Grieg’s original plans for the Marystown site included a smolt tank as well as a post-smolt tank, enabling the company to hold the fish on land longer — growing to post-smolt stage — before transferring to sea. Those plans changed, though, because of COVID, and only the 600 tonne capacity smolt tank was finished.while it assessed the pandemic fall out on seafood markets and global economy.
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