Nordic Aqua secures major Chinese investment, refinancing for expansion

Nordic Aqua Partners AS (NOAP) has completed a transformational Chinese equity investment and long-term refinancing for its subsidiary, Nordic Aqua (Ningbo) Co., Ltd. Two Chinese state-owned entities, Ningbo Ocean Development Group Co., Ltd. and Xiangshan Strait Economic & Technological Cooperation Co., Ltd., have invested RMB 300 million for a 20% stake in Nordic Aqua Ningbo. NOAP retains majority ownership.

Additionally, Nordic Aqua Ningbo has secured a 10-year loan agreement with a syndicate of Chinese banks for RMB 385 million. These proceeds will refinance existing credit facilities and short-term bridge loans, providing long-term funding for NOAP and a clear pathway for financing Stage 3, along with partially securing a working capital facility of up to RMB 200 million.

The new financing supports NOAP’s planned expansion to scale Atlantic salmon production from 8,000 to 20,000 tonnes. Detailed engineering for Stage 3 will conclude in 2026, with a Final Investment Decision targeted for late 2026 or early 2027. NOAP may explore capital market alternatives for Nordic Aqua Ningbo, including a potential listing in China or Hong Kong.