Another Russian win for AKVA

AKVA has secured yet another contract for its cage farms from Russia. Photo: Akva Group AKVA has secured yet another contract for its cage farms from Russia. Photo: Akva Group

AKVA Group has won yet another contract to supply cage farms for salmon farming operations in Russia - a contract worth around 50m NOK (US$8.5m).

AKVA and OJSC Russian Sea Group will install the complete farms for Russian Sea Aquaculture LLC in the developing Murmansk region, where AKVA's cage farms are already part of the growing salmon industry.

“Russia is proving to be a very promising region for expansion of the salmon industry and remains a focus area for AKVA group,” Trond Severinsen, chief operating officer, exports, AKVA.

“We are proud to work with a leading player such as Russian Sea Aquaculture LLC in this development of the industry in Russia. This contract is strategically important for AKVA group's long term success in this market.”

Inna Golfand, CEO, Russian Sea Aquaculture, added: “We plan to launch these third and fourth farms in Q2 2014 and are pleased to work with AKVA group as our partner on these projects. We see strong advantages in working with an established player in the field. We believe that this contract represents an important step towards the development of the aquaculture industry in Russia, and for Russian Sea Aquaculture as company.”

Each farm will have an annual production capacity of up to 5,000 tonnes and are expected to be delivered in Q1 and Q2 of 2014.

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