Brief: Gigante Salmon Says Cost For Construction Work In Rødøy To Increase By NOK 200 Mln

Gigante Salmon AS

07/09/2023 15:24

Sept 7 (Reuters) - Gigante Salmon AS  GIGA.OL :
    * UPDATED COST ESTIMATE FOR COMPLETION OF PRODUCTION FACILITY IN RØDØY
    * HAS TODAY BEEN INFORMED ABOUT AN EXPECTED COST INCREASE FOR CONSTRUCTION WORK IN RØDØY, OF
APPROXIMATELY MNOK 200
    * AFTER INCREASE, TOTAL INVESTMENT IS ESTIMATED TO AMOUNT TO APPROX. MNOK 645
    * COST INCREASE IS CAUSED BY GENERAL PRICE INCREASES, AS PREVIOUSLY COMMUNICATED, IN
PARTICULAR
WITHIN ELECTRIC POWER, IN ADDITION TO CHANGES THAT COMPANY INTENDS TO MAKE TO SECURE FISH
WELFARE AND ACCOMMODATE SUSTAINABLE PRODUCTION
    * COST INCREASE WILL BE COVERED THROUGH A COMBINATION OF EQUITY AND DEBT FINANCING
    * FIRST SMOLT RELEASE IS EXPECTED TO TAKE PLACE IN Q4, SOMEWHAT LATER THAN PREVIOUSLY
ANNOUNCED
SEPTEMBER/OCTOBER RELEASE

Source text for Eikon:  ID:nObiH0FYxa 
Further company coverage:  GIGA.OL 

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