Nordic Aquafarms has completed nearly all of its due diligence on the 40-acre site in Belfast where it plans to build a state-of-the-art land-based salmon farm.
Phase 1 of the multi-stage $450 million-to-$500 million project is expected to cost $150 million.
At a May 9 public information meeting in Belfast, CEO Erik Heim said the company will proceed with pre-engineering and preparation the various state and local permit applications necessary for the company to begin construction next year on the first phase of the project, according to a company news release.
"We have confirmed that necessary conditions are in place on the site for our planned aquaculture production, including the availability of clean, abundant and sustainable groundwater from test wells," Heim said in the release. "We now have over 90% confidence related to site conditions and requirements and as a result will be moving ahead with engineering and permitting."
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