Salmon RAS plant in final construction phase in Japan
Everything is going according to plan for Proximar Seafood
Land-based salmon farmer Proximar Seafood is making great progress in Japan, chief executive Joachim Nielsen says in the company’s results for the first quarter of 2023.
“I am especially pleased with the achievements on financing and the experience from the facility so far. Construction still progresses according to plan and we are now in the final stage,” writes Nielsen.
Some of the highlights from Proximar Seafood’s first quarter are that:
- Construction is approaching its final phase, with completion of the grow-out facility in the third quarter.
- Production for the company continues with monthly batches of ova being received.
- The company has strengthened the production team with highly qualified candidates.
“Proximar continues to receive strong interest from Japan, which strengthens our belief in our upcoming products for the market here,” writes the company.
Another highlight from the quarter is that the company signed Japan’s first “blue sustainability loan” with three Japanese banks.
The proceeds of the loan will be used to finance the development of Proximar’s RAS facility. The loan is divided into two payments, the first payment of which was in April, and the second due when the post-smolt building is handed over by the builders in the third quarter of 2023.
Proximar Seafood believes that the long-term outlook for the Japanese market for Atlantic salmon is attractive, with high prices. The company also believes it will have an advantage from being the first in Japan to produce salmon, and that it will be an advantage in the future to run local food production.
Norwegian-owned Proximar plans to produce 5,300 gutted weight tonnes of Atlantic salmon annually at Oyama, situated at the foot of Mount Fuji and about an hour’s drive from Tokyo.