An Icelandic company aims to build the world’s first environmentally-minded cable and wire manufacturer in the world.
Friðrik Þ. Guðmundsson, spokesperson for The North Pole Wire, told Morgunblaðið that, “the North Pole Wire wants to raise up like a phoenix from the ashes and create in Iceland the world’s first and only cable manufacturer built on green energy.”
The cables would cover any number of uses, from high tension lines to ocean-bottom lines. The project could take three to four years to complete, but could create hundreds of jobs. Guðmundsson said the company is hoping to attract foreign investors to the project, and believes the market for “green cables” could be international. He also estimates that the factory will require about half the electricity used by aluminium smelters in Iceland.
Iceland is experiencing rising unemployment – at about 6% at last count – and rising.