Good news for once! It seems that Michael Bless, the CEO of Century Aluminium which is trying to build an aluminium plant at Helguvik in southwest Iceland, is now pessimistic that the plant will ever be built and says it might be shelved. At a meeting with Bank of America Merrill Lynch, he said that building will not continue unless it is seen that the plant would be very profitable – which is unlikely due to the low price of aluminium at the moment and the fact that energy to the plant has not yet been finalised, nor have the costs of the hypothetical energy. I have written a number of articles and blogs about the problems of the Helguvik plant – does anyone want another one about the current state of affairs?
It now seems that one of the main proponents of the plant outside of Century themselves, the mayor of the local town of Reykjanesbaer Arni Thor Sigfusson, is also much more pessimistic than he was about the plant being built. He had always welcomed the advent of the plant because it would provide employment for the area.
Iceland’s current government has been keen on getting the plant finished. No word has come from them today, maybe because they are trying to deal with the current Budget for next year and tying themselves in twists because of it.
Maybe we can now say: RIP Helguvik.