New Silicon-Metal Facility in Helguvik
The Icelandic Silicon Corporation, the ministers of industry and finance and the mayor of Reykjanesbaer have signed investment agreements on the construction of new Silicon-Metal Facility in Iceland. The investment agreements are based on a new framework legislation on incentives for foreign direct investment in Iceland. The factory, which is expected to be operational by the second half of calendar 2013, will be located in Helguvík and will need 550 GWa (65 MW) for its production of 40 000 mt of metallurgical silicon. The Icelandic Silicon Corporation, HS Energy and Landsvirkjun (National Power Company) have signed agreements on energy supply for the production.
Construction is expected to start in Helguvík early this summer. The construction period is expected to last 20 months and provide 300 jobs on annual basis during that time and begin operations during the second half of 2013. The permanent workforce of the factory is expected to be approximately 100 people. The work force will be a mixture of experts, technicians and unskilled workers. The total investment amounts to Euro 110.000.000 or equivalent to ISK 17 billion. The project is fully funded with no public aid except those incentives stipulated in a special investment contract between the company, the government and the township Reykjanesbær.
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