Sweden's Sotenas municipality, which announced it would be hosting Europe's largest land-based salmon farming project to date in March this year, has now formally signed the lease agreement for 140 hectares of land to be used by the farm.

“The municipal council in Sotenas has now unanimously agreed on the lease of land. Thus, the company can now proceed with its application for environmental permission," said council chairman Mats Abrahamsson. "The municipal management is extremely positive about the opportunities that this establishment will mean for Sotenas and the other municipalities in the region."

At an estimated investment of SEK 17-20 billion ($1.8-$2.1bn), the recirculating aquaculture system -- now named Quality Salmon -- is intended to have a final capacity of 100,000 metric tons of fish. The project is funded by major seafood investor Lighthouse Finance, which now intends to invite industry players to make use of the facilities [...]