Progress remains strong at Andfjord Salmon’s build-out at Kvalnes, Andøya in Norway with work on schedule and waterways close to completion.
A total of 4.4 kilometres of tunnel infrastructure is being developed at Kvalnes, including inlet waterway, tunnel infrastructure and outlet waterway.
This phase of the build will see the building of four new pools, increasing total production capacity to 8,000 tonnes HOG by 2025, and a new harbour area.
“Although our key focus is now on the first four pools, it is worth reminding our shareholders that the inlet and outlet waterways, which are close to completion, are designed to support a future production of 40,000 tonnes of salmon at Kvalnes,” said chief executive, Martin Rasmussen.
“Although this has required a sizeable upfront investment, it will make the subsequent build-out stages much less costly and with substantially lower risk.”
The waterways workstream also includes tunnel infrastructure below the excavated pool pits comprising eight vertical inlet shafts that will supply the pools with fresh seawater and six vertical outlet points.
The pool construction workstream is also progressing well with columns, supports and preparations for wall elements completed for pool K1 and is in progress for K3.
The harbour area workstream has reached 61% completion. Large boulders are currently being put in place as foundation for the breakwater that will protect the harbour against strong winds and waves.
This expansion has temporarily suspended production and meant that Andfjord Salmon is reporting revenues in Q3 2024 of close to zero. The company reported a loss of NOK 15.3 million (€1.31 million) in this year’s third quarter, compared to a loss of NOK 28.3 million (€2.42 million) in the corresponding period last year.
