At the same time negotiation of contracts was finalized between Alcoa, the Icelandic Ministry of Industry, Fjardabyggd township and the Harbor Fund of Fjardabyggd.
Lawyers will now review the contract text, which will be initialled before year-end.
The Power Contract will be put before the boards of the respective companies for confirmation. The Minister of Industry will present an Enabling Act to the Parliament as it resumes following the Christmas break. The Authorities in Fjardabyggd will also review the contracts the township is a party to.
Reykjavík, December 13, 2002
ALCOA THE MINISTRY OF INDUSTRY
LANDSVIRKJUN FJARDABYGGD TOWNSHIP
THE HARBOUR FUND OF FJARDABYGGD