Bakkafrost has announced plans to invest approximately $65 million (DKK 425 million) in its fishmeal, oil and feed business over the next four years to increase feed capacity and feed line capabilities. Investments will also be made to increase the fish oil capacity to support marine index.

The investment is part of the updated company-wide investment program for the period from 2018 to 2022. The new investment program builds on the same strategy set out in the investment program from June 2016, but also includes new strategic initiatives.

The production of fishmeal and fish oil in 2017 was a record high due to good availability of raw material. Bakkafrost expects relatively high production volumes of fishmeal and fish oil in 2018. Havsbrún’s sales of fish feed in 2018 are expected to be at 80,000 tonnes, depending on external sales.

Bakkafrost’s new salmon meal and salmon oil plant started operation early in the third quarter of 2018. This operation will increase the value of offcuts from salmon harvested and processed in the new factory at Glyvrar.