Nordlaks Postpones Investments

In a press release, Nordlaks, a Northern Norwegian aquaculture group, announced that they are putting several investments on hold after the government's proposal of ground rent tax. 

"Nordlaks has put the work on a new slaughterhouse and filleting factory in Vesterålen, Northern Norway, on hold. Nordlaks is also postponing three large investments in land-based broodstock facilities. Together, these four investments amount to NOK five billion and would create hundreds of new jobs and major ripple effects in the local communities," says CEO Eirik Welde of Nordlaks.

The government's proposal of ground rent tax has been put out on hearing. During October, the committees at the Norwegian Storting will start processing the state budget, before it is approved by the Storting in December.

"For the next six year-period, Nordlaks had identified possible investments totaling NOK seven billion. Going forward, we will have to evaluate all the investment projects again. When the national budget has been processed by the Storting, we will know more about what can be carried out," says Welde.