Media House International Ltd
Search Media House InternationalFollow Media House International on TwitterFollow Media House International on LinkedIn
Media House International

The MHI team are working as normal during the global pandemic and can be contacted by email or mobile.

  • Jack Irvine:+44 (0) 7860 457456
  • Ramsay Smith: + 44 (0) 7788 414856
  • Gary McQueen:+ 44 (0) 7834 694609
  • Lorna Gardner: + 44 (0) 7813 193618
  • Caroline Middleton Gordon: + 44 (0) 7759 258844
Statkraft begins taking power from Kincardine floating wind farm
One of Europe’s biggest energy providers has started to take the electrical output from... more >
RBS and University of Edinburgh launch programme to help SMEs become climate change leaders
A new partnership designed to empower Scottish companies to become climate change leaders has... more >
Prices soar for new-build homes across Scotland
The average cost of a new-build in Inverclyde was £164,085 in April this year... more >
Gove grilled by MSPs on Scottish firms moving to Northern Ireland to get tariff-free EU access after Brexit
Michael Gove faced a grilling from Scottish ministers this week on the perceived lack... more >
Interpath Advisory opens first UK office in Edinburgh
Interpath Advisory will be opening its first UK office at 31 Charlotte Square in... more >

Salmon farmer pledges £711 million for Scottish operations

Bakkafrost, the Faroese company that owns The Scottish Salmon Company, has pledged £711m investment into the way its salmon is produced.

The five-year plan is intended to raise production by 40% without acquiring new licences.

Its site at Applecross in Wester Ross will be expanded at a cost of £49m, while there will also be a new onshore production site.

These will use recirculating aquaculture systems (RAS), with renewable energy and recycling of waste.

Growth is expected to be generated through a combination of employing idle licence capacity and higher utilisation of existing licences by using large smolt (young salmon).

Much of the investment will go into improving the biological performance and cost structure of its Scottish operations.

“The business, which has underperformed the industry in the past, will strengthen all parts of the value chain,” read a statement.

“A more robust framework for seawater risk mitigation combined with a shorter seawater cycle is expected to become a game changer for biological performance and result in significant sustainable growth.”

The company said that the implementation of the investment plan will be transformational for its Scottish operations.

Due to lead times in construction and the long production cycle of salmon, expected profit and loss improvements are back-end loaded in the plan.

The investment plan is expected to be financed through a combination of operational cash flow and available funding.

Bakkafrost’s managing director Ian Laister said: “This investment plan will be transformational for the business as we aim to become the leading and most sustainable salmon producer in Scotland.

“Our commitment to incorporate RAS technology across all freshwater production is fundamental to delivering sustainable growth and a game changer for the business.

“Our strategy delivers true value to our stakeholders and continues and enhances our support for the rural communities in which we operate.”

Don’t miss the latest headlines with our twice-daily newsletter – sign up here for free.

Published in Insider -