“Of course, the funding environment is still such that this takes time. It’s not a straight path, but we’ve been successful,” says CEO Geo Salmo.
The land-based Salmon farming company GeoSalmo in Þorlákshöfn is currently working to raise at least 40 million euros, equivalent to about 6 billion isk.kr. in new share capital.
This is stated on the website of Viðskiptablaðið.
“The land-based Salmon farming company has received approval for a loan agreement of over one hundred million euros, or almost 15 billion isk.kr., from DNB, Arion banki and Eksfin,” says vb.is, which also quotes comments by Håkon Andre Berg, chairman and shareholder of GeoSalmo, in the online media IntraFish. “The company is looking to finance the first phase of construction,” Berg is quoted as saying, who had given a presentation at the NASF seafood exhibition in Bergen.
© Submitted Photo
Moving slowly forward but surely
The first phase of the GeoSalmo land-based farm is expected to produce up to 7,800 tons of salmon. Viðskiptablaðið speaks to Jens Þórðarson, CEO of GeoSalmo, who says that the first phase of the development will be financed in stages and says that the above-mentioned financing is well underway.
“Of course, the financing environment is still such that this takes time. This is not a straight path, but we have been successful. This is progressing slowly but surely. We are just continuing,” Jens Þórðarson is quoted as saying on vb.is, where the matter is discussed in more detail.
Source: Fiskifrettir.vb.is
