bremenports to develop new deepwater port in Iceland

bremenports has established a company with Icelandic partners to develop a new deepwater port in Finnafjord, Iceland.

The Finnafjord Port Development Company is a cooperations with bremenports, the municipalities of Langanesbyggð and Vopnafjarðarhreppur, and Icelandic engineering firm Efla.

The project includes a deep water port on the Finnafjord in the municipality of Langanesbyggð, southeast of the municipality of Thórshöfn in northeast Iceland; an industrial site for the supply of the port and for commercial activities; the development of port infrastructure and industry,
including electricity, water and road access. The full realisation of the project could take more than 40 years.

bremenports will initially hold 66 percent of the shares in the port development company. Efla holds a 26 percent stake. Another 8 percent are in the Icelandic communities. In the next step, the FFPD is supplemented by the entry of an investor.

The Senator for Economics, Labor and Ports, Martin Günthner, said: “The harbour project in Iceland offers a concrete long-term perspective for a development that will certainly go on for several decades. It creates conditions for the sustainable development of the Arctic and helps to make developing new shipping routes safer. In addition, the project offers great development opportunities for a structurally weak region. It is an honour that bremenports can take part in this project at the request of Iceland.”

At the Finnafjord, six kilometres of quay can be developed and a hinterland of 1,200 hectares developed. The area is almost uninhabited and offers excellent geological possibilities for the construction of the port. The water depth in the bay is approximately 20 meters deep.

For more information visit www.bremenports.de

29th April 2019