As the Njarðvík Shipyard in south-western Iceland prepares to invest in a 100 metre by 20 metre wide covered dock, the company and local authorities have signed a memorandum of understanding aimed at boosting services to shipping in the area.
A shipping services cluster of the kind envisaged under the MOU with the Reykjanes local authority and the Reykjanes harbour authority could generate hundreds of jobs by improving port facilities, attracting business both locally and from other countries around the north Atlantic.
A key aspect of this is the investment in the new covered dock, which would provide facilities for fishing vessels of practically any size – but this initiative hinges on the port authority constructing a new protective breakwater.
According to a statement by the three parties, a dock of this kind and size would make it possible to offer repair and maintenance services to fishing companies which currently seek these abroad.
The shipping services cluster expects to focus on repair, maintenance and refits work for Icelandic and other vessels across the North Atlantic region, and the increased emphasis on renewable energy, optimised energy management and pollution prevention are seen as providing new opportunities.
The thinking behind the proposed venture also pivots on the extensive pool of expertise among tech companies in Iceland, generating opportunities for the metalworking sector in the capital region and drawing on a range of specialist providers.
The Reykjanes cluster is seen as having the potential to generate more than a hundred jobs in the short term, and a projected 250-350 direct and indirect jobs within a few years. The construction period for the venture is put at three years from the necessary finance being secured.