Fertil ehf. is planning to construct a giant fertilizer factory in Iceland. The investment is not expected to be lower than 30 billion Icelandic crowns ($245 million, €162 million) and the factory would require 350 MW of electricity, Iceland Review reported early last week.
The most probable location is Thorlakshofn in south Iceland.
The company’s representatives have met with ministers, local authorities, energy companies, the Invest in Iceland Agency and foreign companies.
The factory would produce around 700,000 tons of fertilizer and 760,000 tonnes of potassium nitrate for export.
However, first, the factory’s energy requirements must be sorted out, according to construction engineer Eggert Gudmundsson, one of Fertil’s representatives.
The factory would create 150 direct jobs, of which 50 to 60 would require employees with a high level of education. Related jobs would be between 450 and 600.
Additionally, a number of jobs would be created involving harbor construction for large vessels. We would have to import 500,000 to 600,000 tons of material for the production and the export would be around 1.4 million tons, Gudmundsson explained.
It is hoped that the company can be in Icelandic ownership. Reactions have been positive, Gudmundsson stated.