Mitsubishi subsidiary hopes to build salmon farms in Nova Scotia

A subsidiary of Japan's giant Mitsubishi Corporation has unveiled an ambitious proposal to build salmon farms in Nova Scotia.

Cermaq Canada says the Nova Scotia government has granted the company four options to lease sites in the Chedabucto Bay region along the eastern shore, and in the St. Mary's region south of Digby.

The British Columbia-based company says it will now conduct feasibility studies as well as extensive public consultations in Nova Scotia.

A Cermaq website says the company hopes to obtain about 20 salmon farm licences, with two hatcheries and a processing plant.

It says more than 300 jobs could be created, and suggests the farms would contribute $500 million to the local economy.

David Kiemele, managing director of Cermaq Canada, says the company will need the support of the Mi'kmaq to proceed.