The agreement includes an intention for Artec Aqua to conduct engineering, delivery, installation and commissioning of designed process related systems and equipment in the future build-out of the project.
“We are delighted to secure this feasibility study, which puts us in pole position to deliver the full turnkey build-out of this exciting salmon farming facility in South Korea,” said Artec Aqua chief executive Ingegjerd Eidsvik in a press release.
Hybrid flow-through system
KSF is a joint venture between Norway-based Salmon Evolution ASA and Korean seafood giant Dongwon Industries Co., Ltd.
The company plans to develop, construct, and operate a land-based salmon farming facility that uses the same hybrid flow-through system (HFS) technology that Artec Aqua is delivering to Salmon Evolution at its site on the island of Indre Harøy in Norway.
“Salmon Evolution has through our cooperation at Indre Harøya gained first-hand experience of our specialist competence within engineering and delivery of land-based aquaculture facilities, and consequently they have introduced us to K Smart Farming,” said Eidsvik.
“We look forward to working with K Smart Farming to realise this project. The project represents an important step on our journey towards becoming a major international supplier of land-based aquaculture facilities.”
In a stock exchange announcement today, Salmon Evolution said the joint venture parties had been working to secure data regarding the quality of KSF’s planned smolt site in Jeungseon and the grow out location in Yangyang.
“As these studies have been satisfying, K Smart Farming has now entered into an agreement with the Norwegian company Artec Aqua regarding a feasibility study for the two facilities,” said Salmon Evolution.
“The outcome of this study will be the basis for further concept development, detailed engineering as well as application for relevant building permits etc.”
Salmon Evolution chief executive Håkon André Berg said: “We are very pleased with the progress of our joint venture with Dongwon in South Korea. We are also happy to announce that the partnership between Salmon Evolution and Dongwon continues to develop.
“This feasibility study is the first of many engineering and construction contracts that K Smart Farming will enter into, and we are excited to continue to work closely with Dongwon in building up K Smart Farming as a substantial land-based salmon farmer in the Korean market over the coming years.”
Artec Aqua AS is a turnkey supplier of land-based aquaculture facilities and solutions within smolt, broodstock and grow-out facilities. It offers flow-through, hybrid and recirculating aquaculture systems.
The company is a wholly owned subsidiary of Oslo-listed Endúr ASA, a supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects.