Brief: Gigante Salmon Updates Cost Estimate Of Rødøy Production Facility

Gigante Salmon AS

19/03/2024 09:15

March 19 (Reuters) - Gigante Salmon AS  GIGA.OL :
    * GIGANTE SALMON AS: UPDATED COST ESTIMATE FOR COMPLETION OF
PRODUCTION FACILITY IN RØDØY
    * BOD OF GIGANTE SALMON HAS TODAY BEEN INFORMED ABOUT A NEW
COST
INCREASE FOR CONSTRUCTION WORK IN RØDØY, OF APPROXIMATELY MNOK
350
    * FIGURES ARE STILL SUBJECT TO CONTROL, QUALITY ASSURANCE
AND
DIALOGUE WITH SUPPLIERS
    * AFTER INCREASE, TOTAL INVESTMENT AMOUNT FOR CONSTRUCTION
WORK IN
RØDØY UP UNTIL COMPLETION OF PRODUCTION SITE IS ESTIMATED TO
AMOUNT TO APPROX. MNOK 995
    * COST INCREASE FORECAST IS MAINLY DUE TO LONGER
CONSTRUCTION
TIME, INCLUDING COSTS FOR RIGGING AND OPERATION
    * COST INCREASE WILL REQUIRE NEW CAPITAL TO COMPANY. THIS
WORK HAS
BEEN INITIATED
    * PLAN IS THAT COST INCREASE WILL BE COVERED THROUGH A
COMBINATION
OF EQUITY AND DEBT FINANCING
    * IN PRIVATE PLACEMENT IN OCTOBER 2023, MNOK 100 MORE THAN
IDENTIFIED NEED AT THAT TIME WAS RAISED

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

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