ML112910367

Enormous Boost to the Gnp

ML112910367
Person / Time
Site:	Monticello
Issue date:	10/18/2011
From:	- No Known Affiliation
To:	Office of Nuclear Reactor Regulation
References
Download: ML112910367 (1)

Text

'I themselves to finance the con struction of power plants and var ious smaller industrial concerns or

'1 services connected with heavy in dustry. And they will need to 4*(

I obtain big loans abroad for this purpose. This ought not, however, to be too difficult, provided agree dl ments can be reached for the sale aN of the energy.

The financing of the Birfell project and the Straumsvik aluminium re J~ duction plant may. therefore be e , -a expected to provide the example for the organization of such matters in Iceland in the future. Iceland will import most of the necessary capital, in the form of loans for power plants and as private capital for heavy industry.

Enormous Boost to the GNP a

I*1 The new Ministry of Industry is now discussing with interested I.

1 foreign concerns the quIstion of

• 1 cooperation in these matters. Ice landers believe such cooperation could be extremely advantageous to both sides, not only because of the ease with which cheap energy ih can be obtained in Iceland, but also because of the stability of Icelandic society and the high stan dard of education. Iceland's entry into EFTA on 1st March 1970 will no doubt exert a positive influence on the development of this co operation, for it means that the country has now become part of a duty-free market of 100 million people foi manufactured goods.

K -~

V It is clear that cooperation of this sort would be of immense benefit to Iceland. It is estimated that the gross sales value of water pover N IN in Iceland could amount to $ 80 million per year and of steam N

energy 5 12 million per year. The initial cost of the hydro-electric N" ~k. r plants alone is estinated at $ 900 Na. million and of heavy industrial projects I 1800 million. The export value of the products of the latter is estimated at about $ 800 million per year, of which it is calculated that some $ 125 million per year would remain in the country in the form of wages, taxes and electricity sales. These are high figures, when it is borne in mind that the Gro;s N'ational Product in

-~ Vs .. .... P-Iceland is. because of the -,mall population, only about '- 300 milion per year.

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