Iceland and Bluestar signs letter of intent
In connection with Chinese Premier Wen Jiabo’s visit to Iceland on Friday, Icelandic authorities and Elkem-owner China National Bluestar signed a joint declaration agreement for building two new plants on the island.
The agreement was signed on Friday by Iceland's Minister of Welfare Guðbjartur Hannesson and CEO of China National Blue Star Robert Lu. It describes a project for the potential implementation of a 10,000 metric ton solar silicon plant and a 50,000 metric ton silicon smelter to be developed in Iceland.
China National Bluestar owns Elkem, which already owns and operates a smelting plant in Iceland. CEO of Elkem Helge Aasen is a board member in China National Blue Star and is positive towards the agreement, but he also points out that the project is in its early stages.
“This agreement shows that there is a strong long-term market outlook for our products. The project is however in a very early stage and there is still much uncertainty related to a possible implementation,” Aasen says.
CEO of Elkem and board member in China National Bluestar
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