Bremenports invests in long-term project in Iceland
The development of the port at Finnafjord in northeast Iceland is now taking shape, following the establishment of the Finnafjord Port Development Company (FFPD).
EFLA, an Icelandic consultant company, Bremenports (Germany) and Icelandic municipal governments are managing the project which consists of a deep-water port at Finnafjord and an industrial park for supplying port and for industrial/commercial activities, amongst others.
Acknowledging that the full implementation of the project could take more than 40 years, the entire costs of quay construction etc. are to be assumed by the concessionaires.
Bremenports will initially hold 66% of the shares in the port development company. EFLA will have a 26% shareholding and the remaining 8% will be held by Icelandic municipalities.
During the next stage it is expectable that FFPD will be joined by an investor. (kd)