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Huang: No Plans to Withdraw Land Application

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Huang: No Plans to Withdraw Land Application

Chinese investor Huang Nubo says he’s not giving up on plans to build a luxury resort at Grímsstaðir á Fjöllum in Northeast Iceland after a government committee tasked with looking into his application concluded on Friday that he must reapply.

grimsstadir_a_fjollum_jan2012_psGrímsstaðir á Fjöllum. Photo by Páll Stefánsson.

The committee said that it lacked the necessary information to properly assess the application. Minister of Industries and Innovation Steingrímur J. Sigfússon sent a letter to the director of Huang’s company Zhonkun Grímsstaðir Halldór Jóhannsson, stating that due to the significant amount of time that has passed since the application was first submitted, and that both sides agree that sufficient information has not been provided, a new application must be submitted.

Huang told bloomberg.com that he was unhappy about the decision but would not give up. “I’m very angry and annoyed at how bad the investment environment in Iceland is. I will not withdraw the application from my side first. I’d rather wait for them to say they don’t welcome my investment.”

Huang also told the news site that he had not been asked by the Icelandic government to submit additional information.

The piece of land he is looking to rent covers 300 square kilometers.

Click here to read more about this story.

ZR

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