Increased production permit
Laxar fish farming have obtained an official authorization and operating permit for increased production. When the permits will be fully utilized, which is assumed to be in two or three years, the export value of the products will be 12.5 to 15 billion ISK (about 8.0 to 9.5 million EUR on today’s currency). The previous permit was for 6 thousand tpy which means that the company can increase production to 16 thousand tpy.
“We celebrate these permits and they mean a lot to us. We had dared to hope that the permits would be issued in the fall. Therefore, in the early summer, we entered into investments for the next twelve months to meet the planned increase. We invested in our fish fry farming stations and bought equipment for the sea farming,” said Jens Gardar Helgason, CEO of Laxar, in an interview with Morgunbladid (Icelandic newspaper).
According to Jens Gardar, the investment in Laxar’s fish fry farming stations amounted to about 1.3 billion ISK and about 1 billion in the sea farming stations. “Moreover, we have hired more people. There are now three open positions in Ölfus and the number of employees here in East-Iceland will be close to forty when we have filled all the positions next year,” said Jens Gardar. He added that the company Búlandstindur in Djúpivogur, of which Laxar is co-owner, will invest for about half a billion ISK this year and the investment includes new graders from Marel and an additional robot from Samey to handle increased processing in the coming years.
It is assumed that this year’s production will reach about nine thousand tons and that it will gradually increase to year 2023 when the permits will be fully utilized.
According to The Marine Research Institute of Iceland’s bearing capacity estimate, the Reydarfjördur production can bear 20 thousand tons of production per year. However, the permitted maximum production is 18 thousand tons, based on the size of fry, according to the Institute’s risk assessment. Jens Gardar says that the next steps forward have not been established but the company’s aim is to harvest what can be achieved in Reydarfjördur, while respecting sustainability.