First new contract of the year for Akva

Norway's Akva Group has secured another contract with Russian Sea-Aquaculture LLC Photo: Akva Group Norway's Akva Group has secured another contract with Russian Sea-Aquaculture LLC Photo: Akva Group
Industry Database

Norway’s Akva Group has signed its second contract with Russian Sea-Aquaculture LLC for another complete Akva cage farm to be installed in the Murmansk region.

This follows the successful completion of a cage farm in the second quarter of 2012 in the same area for a salmon farm with an annual production capacity of 5,000 tonnes.

This new contract is worth NOK27.2m and will be delivered in the first half of 2013. As before, the new farm will be used to help fuel the expanding salmon industry in Russia.

It fits in neatly with Akva's strategy to focus on Russia as a growth area going forward.

And there is more news from the company, just before Christmas, the group entered into negotiations to acquire part or all shares in Norway's Plastsveis AS.

Plastsveis AS is a leading company within polyethylene installations and land based technology to the smolt and fry producers in Norway. Akva believes that the acquisition will be complimentary to the land based business area of the group.

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