We are actively pursuing a new greenfield aluminum reduction project near Helguvik, Iceland, approximately 30 miles (48 kilometers) from the capital city of Reykjavik. Construction activity is significantly curtailed pending confirmation from power suppliers that they will be able to deliver the required power to the project.
Construction of the prospective aluminum plant is estimated to require 1,800 man-years over a six- to eight-year period. The smelter is expected to create 300-400 direct jobs and 600-700 indirect jobs in the local area.
An aluminum plant in Helguvik could create job security and pay considerably higher wages than comparable industries. The tax revenues generated by the plant could enable the municipalities to develop services and improve local living conditions.
We believe Nordural is vital to Iceland's drive to strengthen its economy and utilize hydroelectric and geothermal resources that can be harnessed to provide an environmentally clean source of sustainable electrical energy.
Rated Primary Aluminum Capacity
Currently permitted under the EIA and Operating License to produce 250,000 metric tonnes per year (mtpy). Subject to extension of the environmental permits, the Investment Agreement assumes production of up to 360,000 mtpy.
Two potlines, each with 180 reduction pots
Casthouse to cast ingots and sows
Discussions regarding power supply are currently underway.
Nordural Grundartangi ehf
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