Another Partner Joins Finnafjord Port Project

Bremen’s Senate has given the go-ahead for the port management company bremenports to become a member of the development company for the Finnafjord port construction project.

The City of Bremen and the Republic of Iceland already agreed some time ago to cooperate closely in the planning and execution of this flagship project.

In May 2016, the Icelandic government signed a fundamental agreement with the municipalities of Langanesbyd and Vopnafjordur, the engineering company EFLA and bremenports.

The objective was to plan and construct a multipurpose port in Finnafjord in the north-east of Iceland. In a previous agreement, bremenports had already been granted the right to market the results of the work and studies conducted in connection with the project.

Both the Icelandic government and the general public regard the Finnafjord Port Project (FFPP) as the country’s most important infrastructure project right now,” said Martin Günthner, Bremen’s Senator for Economic Affairs and Ports.

According to bremenports Managing Director Robert Howe, comprehensive nautical and structural studies will be necessary before the project can make progress and these can only be conducted with external financial partners.

FFPD, which is to be officially founded in the first half of 2017, will initially have four shareholders: the municipalities of Langanesbyd and Vopnafjordur, EFLA and bremenports.

 

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