Chinese Investors Show Increasing Interest In Iceland - The Reykjavik Grapevine

Chinese Investors Show Increasing Interest In Iceland

Published August 29, 2011

Two different business ventures by two different Chinese companies have recently set their focus on Iceland.
Huang Nubo, director of the company Zhongkun, is willing to pay 1 billion ISK for land in Grímsstaðir á Fjöllum. The land has been for sale for some time now, and Nubo would like to build a luxury hotel on the location.
The problem is, Icelandic law forbids those from outside of Europe from owning land in Iceland, unless they make a formal request that an exception be made in their case. Minister of the Interior Ögmundur Jónasson said that the matter will be looked at more closely.
Meanwhile, radio station Rás 2 reports that another Chinese company, Hisjang Group, has come forward with the proposal of exporting 100,000 tonnes of water from Þórshöfn in Langanes each year.
Gunnólfur Lárusson, the mayor of the region, said that Hisjang Group were thinking of either pumping the water into a tanker ship bound for China, for build a water bottling factory on the location. While supportive of the idea, he did express doubts that Langanes could produce that much fresh water.

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