A site run by Fiskeldi Austfjarda HF (Ice Fish Farm). Image: Midt-Norsk Havbruk.

Another Norse firm invests in Iceland

Midt-Norsk Havbruk AS has become the latest Norwegian salmon producer to invest in Iceland, announcing today that they are buying up shares in Fiskeldi Austfjarda HF (Ice Fish Farm).

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Ice Fish Farm has currently licences for an annual production of 11,000 tonnes of salmon and trout, and have applications that could increase the volume up to 51,000 tonnes.

The company operates farming sites on the east coast of Iceland, and is co-owner of a smolt company and a slaughterhouse. The company will harvest its first salmon in 2017 and plans to reach an annual production level of 15-20,000 tonnes within a few years.

Midt-Norsk Havbruk currently produces about 22,000 tonnes gutted weight, in partnership with Bjørøya Fiskeoppdrett, over ten localities.

In a press release issued today, they stated that: “Iceland has natural conditions for significant salmon farming, and that the fjords on the east coast provide excellent opportunities for a large and sustainable production. Midt-Norsk Havbruk AS therefore wishes to be involved in developing aquaculture in Iceland, and provide expertise and capital to ensure Ice Fish Farm becomes a significant national player.”

The company is not the only firm to be eyeing up Icelandic opportunities. In August last year Norway Royal Salmon bought up 50% of Arctic Fish, in a deal worth €29 million – a move that coincided with the Icelandic firm’s decision to switch its focus from trout to salmon production – while Akva is due to deliver a 650 tonnes feed barge to another Icelandic producer, Arnarlax, this spring.