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FAROE ISLANDS -Bakkafrost outlines new USD 335 million investment plan

Within its plan, the Faroese salmon producer is to pump DKK 380 million (USD 58 million, EUR 51.1 million) into its fishmeal, oil and feed business, with investments to include a new salmon meal and oil plant.

June 15, 2016


Bakkafrost Group has unveiled a new DKK 2.2 billion (USD 335.6 million, EUR 295.9 million) investment strategy for the five-year period 2016 to 2020.

Within its plan, the Faroese salmon producer is to pump DKK 380 million (USD 58 million, EUR 51.1 million) into its fishmeal, oil and feed business, with investments to include a new salmon meal and oil plant.

More than DKK 1.1 billion (USD 167.8 million, EUR 147.9 million) will be invested in its smolt production, including bringing three new facilities on stream, and a further DKK 160 million (USD 24.4 million, EUR 21.5 million) will go its harvest/VAP operations, including funding the completion of its new factory at Glyvar.

Source: Seafood Source / Read full article

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