Bodø, 07.09.23:
The board of directors of Gigante Salmon AS has today been informed about an
expected cost increase for the construction work in Rødøy, of approximately MNOK
200. After this increase, the total investment amount for the construction work
in Rødøy up until completion of the production site is estimated to amount to
approx. MNOK 645.
The cost increase is caused by general price increases, as previously
communicated, in particular within electric power, in addition to changes that
the company intends to make to secure fish welfare and accommodate sustainable
production. The cost increase will be covered through a combination of equity
and debt financing. Further information will be given in the next quarterly
presentation on the 24 October 2023, including more detailed information on
financing.
- When production starts it is with assurance that the facility is ready. Our
key priority is the wellbeing of our fish at our facility, says CEO Helge E. W.
Albertsen of Gigante Salmon.
Gigante Salmon is currently in the process of completing the first production
pool and expects to have water in the facility from the start of October. The
first smolt release is expected to take place in Q4, somewhat later than the
previously announced September/October release. This will lead to production
start with a larger smolt and will not change the progress plan with the first
fish ready for slaughter at the end of 2024. No change in production volume is
expected.
For further information, please contact:
Helge E. W. Albertsen, CEO
E-mail: helge@gigantesalmon.no
Phone: +47 480 47 613
Rune Johansen, CFO
E-mail: rune@gigantesalmon.no
Phone: +47 988 44 724
This information is subject to the disclosure requirements of the Norwegian
Securities Trading Act Section 5-12.
Gigante Salmon:
Gigante Salmon is a land-based salmon farming company with its first production
facility under construction on Lille Indre Rosøy in Rødøy, Norway. The company's
aquaculture concept is based on a flow-through system, combining the benefits of
conventional and land-based aquaculture while simultaneously eliminating issues
associated with conventional, sea based, farming. Visit www.gigantesalmon.no for
more information.