Iceland's Finnafjord port inches closer
Attractive prospect: The site is attractive is not only for port handling but also as a location for energy logistics
Bremenports has become a development partner for the new Finnafjord port project in Iceland, edging the project a little closer to realisation.
Dr Lars Stemmler head of international projects, bremenports, told Port Strategy: “The Finnafjord area can provide for approx 6km of quay-length if fully developed. The key benefit is to have ample development land behind the key which makes the site attractive not only for port handling but also as a location for energy logistics.”
“This is our term for support services for oil/LNG field exploration and production, oil storage as well as mineral processing to exploit cheap local electrical energy.”
Iceland's government signed a fundamental agreement to construct the port with the municipalities of Langanesbyd and Vopnafjordur, engineering company EFLA and bremenports back in May 2016.
The operator's involvement in the project could open up interesting prospects for Bremen’s economy to develop new business in the emergent logistics region at Finnafjord and in Iceland.
A development company will be set up this year with participation from bremenports. Its job will be to tender concessions to the relevant industries and obtain investors for the port development.
Following the tender responses and required planning phases, Dr Stemmler told PS that construction might begin as early as 2020.
He added that depending on the complexity of the marine structures, construction periods for individual terminals could take between 12 to 36 months.