Cermak suspends project due to salmon tax – now investments are coming – E24

Cermak suspends project due to salmon tax – now investments are coming – E24

The new facility will create 24 new jobs in the municipality, the agriculture agency said.

Raised tax: Farming firm Cermak invests in new plant despite increased salmon tax.
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Aquaculture company Cermak Norway is building a new smolt facility in Hasvik in Troms and Finnmark, according to a press release.

The facility was initially shelved last fall due to great uncertainty after a proposal for a land rent tax on salmon farms was introduced. Now Cermak has chosen to build this facility anyway.

The facility will be ready in 2026 and produce approx. 12. Million Post-smolt Post-smolt The post-smolt stage is defined as the first period when salmon go through smoltification, i.e. the transition from a freshwater-adapted fish to a saltwater-tolerant salmon. How large a salmon can grow before it stops post-smolt is not clearly defined. By producing large post-smolt on land, the fish are much stronger and production time at sea is significantly reduced.year.

This is the first smalt plant that Cermaq will build in Vest-Finnmark and will create 24 new jobs in the municipality, according to project owner Snorre Jonassen.

– Deciding to increase regardless of tax

Cermak writes that the plant has been reduced since the introduction of the land rent tax, but it is difficult to estimate exactly how much, says Lars Kaltung, Cermak’s press contact when asked by E24.

“Given the ambition for growth,” he says later, the plant could be 10-30 percent larger than it is now.

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– Considering our demand for smalt, it is important to increase our own production of smalt regardless of taxation. At the same time, we have scaled back the project because of the uncertainty as we experience structural conditions, executive director Knut Elekjaer said in a press release.

At the end of May, the government parties agreed with Venstre and Patientfokus on a land rent tax for aquaculture.

The effective tax rate was fixed at 25 percent.

A great deal

Cermak has selected Aqua Group, a supplier of equipment and technology to the agricultural industry, to supply Facility Equipment (RAS).

The deal is Aqua Group’s largest ever in Norway and is worth at least 60 million euros, according to a stock market announcement.

It roughly corresponds to NOK 710 million.

Aqua Group rallied on the stock market after the news, rising 4.5 percent at 12:30 p.m.

Joshi Akinjide

Joshi Akinjide

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