Bakkafrost's farming sector has done well but the value-added products sector has been hit by high spot prices. Photo: Bakkafrost

Bakka expansion on track

Bakkafrost has revealed that it is now “about halfway through” its plans to expand, which were presented in the summer of 2013.

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The plans outlined the Faroese company’s ambitions to:

  • Produce bigger smolt (up to an average of 300g by 2018).
  • Minimize biological risks.
  • Gradually enhance the total production capacity by 10-15%.
  • Improve efficiency and economics of scale by integrating production units on land.
  • Save about DKK 70-90 million (£7.13-9.17m) yearly from 2017.

One of the key ingredients to this –  the creation of a new production plant and HQ – is progressing. The ship M/S Nordvåg has recently made two trips from Strand in Norway to Glyvrar with equipment for the new production plant. Many installations – such as waste disposal systems, freezers, ice production, plumbing – are ongoing.

Although the project is currently a couple of weeks behind schedule, the company hopes to start trial production at the plant by May this year.