Grieg Seafood Newfoundland announced a $14 million investment Thursday in phase-one construction of its ‘Post-Smolt A’ building in Marystown.

Three years ago, as a result of  the global pandemic, Grieg Seafood Newfoundland was forced to put a stop to the construction of its Post-Smolt Building. Now, with a multi-million dollar investment, construction is about to resume.

The post-smolt approach is a new technology in salmon farming, according to Perry Power, Director of Communications, Grieg Seafood Newfoundland, and it is good for the salmon and the environment.

The second phase of construction for the building  is contingent upon several factors, one in particular  will be a decision made in British Columbia. In addition to the $14 million investment, Grieg says it will invest another $38 million in its Newfoundland operations in 2023.

NTV’s Ross Tilley will have more on the NTV Evening Newshour.