German company Bremenports is planning to establish a company in Iceland in the coming months and contribute ISK 45 million (USD 376,000, EUR 282,000) to an evaluation of the viability of constructing an international freighter harbor in Finnafjörður fjord on the southern Langanes peninsula in Northeast Iceland.
Finnafjörður in April 2013. Photo: Páll Stefánsson/Iceland Review.
The company’s representatives state that big opportunities lie in the fjord’s depth and its location once sailing routes open across the Arctic Ocean. If oil will be discovered in the Dragon Zone off Northeast Iceland the opportunities will multiply, ruv.is reports.
Representatives of Bremenports flew over the area yesterday morning and afterwards met with representatives of the Icelandic government where they presented their ideas.
Local municipalities Vopnafjarðarhreppur and Langanesbyggð have worked on the project for several years.
“It is very deep in Finnafjörður and the land space around it is extensive so it is unique in Iceland and perhaps in all of the Arctic region,” stated chair of the Langanesbyggð district council Siggeir Stefánsson.
People estimate that it won’t be long until products can be transported around or across the North Pole from Asia to Europe and the Americas. “It will shorten the transport route extensively,” Siggeir pointed out.
There is one inhabited farm and a few abandoned farms in Finnafjörður. Negotiations with landowners are scheduled to begin next month.
Bremenports want to study the place’s geography, geology and wave conditions. If the studies prove successful, extensive research of the environment and biosphere will follow. The process is expected to take two to three years.
The company’s representatives stated that the Icelandic government had reacted positively towards their ideas.
They include a six-kilometer long quay which would make Finnafjörður the largest freighter port in the world.
Approximately 400 jobs could be created in the harbor area and even more related jobs. The operations would result in extensive tax revenue for the Icelandic state.