Grieg, Ocean Choice finalize Placentia Bay aquaculture agreement

The Grieg Group and Ocean Choice International (OCI) have finalized the ownership agreement around the proposed Placentia Bay Aquaculture Project.

Under the agreement, OCI will handle the processing of products farmed at one of the 11 Grieg NL Seafarms marine farms.

“The agreement marries the Grieg Group’s extensive experience in the salmon with OCI’s leading expertise in seafood processing and marketing and marks the continued long-term commitment and cooperation of the two family-owned companies to develop the Placentia Bay Aquaculture Project,” a release from Grieg reads.

The project, which the company says represents an investment of $25 million into the province’s rural economy, is currently under environmental assessment.

The provincial Department of Municipal Affairs and Environment's environmental assessment committee is seeking feedback from the public on proposed guidelines for the company on what will be required in its environmental impact statement (EIS) submission.

The draft EIS guidelines are available on the provincial government's website.