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Pescanova to invest 350million Euros In Aquaculture Plant

PORTUGAL - Pescanova SA will invest about 350 mln eur in a Portuguese aquaculture plant, which will be backed by the Portuguese government with about 45 mln eur in subsidies, daily Jornal de Negocios reported, without citing sources.

The contract for the project, which will be finalised this week, targets a government contribution of about 40 mln eur in direct subsidies and about 5 mln in tax credits.

Ground breaking for the project will start in August.

Source: Forbes

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