New Silicon-Metal Facility next to the Ásbrú Enterprise Park
The Icelandic Silicon Corporation, HS Energy and Landsvirkjun (National Power Company) have signed agreements on energy supply for production of 40 000 mt of metallurgical silicon. The factory, which is expected to be operational by the second half of calendar 2013, will be located in Helguvík in the south-west of Iceland and will need 65 MW for its production.
Globe Specialty Metals, Inc. (NASDAQ: GSM), one of the world’s largest producers of silicon metal and silicon-based specialty alloys, will own approximately 85% of ISC and be responsible for operations and marketing. Tomahawk Development in Iceland Inc. will continue to own approximately 15% of ISC. The total investment amounts to Euro 110 million or equivalent to ISK 17 billion. The permanent workforce of the factory is expected to be approximately 100 people. The work force will be a mixture of experts, technicians and unskilled workers.
Globe Specialty Metals operates five silicon and silicon alloy factories in USA, and one in Argentina. GSM customer group consists among others of producers of solar cells, computer chips, autos, concrete, chemicals, aluminum and steel.
Helguvík harbor is located on the Reykjanes peninsula of Iceland next to the Ásbrú enterprise park and Keflavik International Airport. The Icelandic Silicone Corporation has offices at the Ásbrú enterprise park and is looking towards working with the Keilir Institute of Technology (KIT) on certain scientific aspects of the project.
Árni Sigfusson, mayor of Reykjanes town especially thanked the developer at Ásbrú, Kadeco, and the Promote Iceland agency for their role in bringing together Globe special metals and Icelandic Silicone Corporation.
Picture: Helguvik harbor and the town of Reykjanes.
