Gigante Salmon will stock smolts in its first pool this week
Land-based fish farmer reports that functional testing of production equipment and facilities has been completed at site on Norwegian island
Gigante Salmon, which plans to produce 16,000 tonnes of salmon annually in three large pools excavated into the bedrock of a small island in Norway, will stock smolts in the first production unit in the next few days, it said in a market announcement today
The entire facility, including the last two production units, will be completed through 2024.
Further information will be provided in connection with the company's Q4 presentation tomorrow.
The smolts will be stocked in Gigante Salmon's nursery pool, where they will grow to 1 kg before being transferred to the two production pools for growth to harvest size.
Gigante Salmon, which is using a flow-through system, expects to harvest 5,300 gwt in late 2024/early 2025 and have a second harvest of the same size a year later from a second batch of smolts.
It plans full production from the second half of 2025, when it will stock 3.3m smolts for a harvest of 16,000 gwt in late 2026/early 2027.