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Investment Agreement between PCC and the Government of Iceland regarding silicon metal smelter plant

10/4/2013

The Minister of Industries and Innovation Ragnheiður Elín Árnadóttir signed the Investment Agreement on the construction of new state-of-the-art silicon metal smelter plant that will be located at Bakki in the northern part of Iceland close to Húsavík. 

The investment agreement is based on a framework legislation on incentives for direct investment in Iceland. The annual production of the factory, which is expected to be operational in 2016, will be up to 33,000 tons of silicon metal per year, with a view to expanding the capacity up to 65,000 tons per year when circumstances permit.

The Agreement is subject to an approval of the EFTA Surveillance Authority.

The Investment Agreement