Huge industrial investment in Norway

Norsk Hydro has announced that it plans to build a full-scale pilot plant for climate-friendly and energy-efficient production of aluminium at Karmøy.

The total investment is calculated to be around 4,3 Bill. NOK (about 450 mill. Euro). The Prime Minister of Norway, Erna Solberg, stated “This investment shows that the green shift is under way. I am delighted to be here in Karmøy and to be able to share this historic moment with Hydro’s employees’.

This is one of the biggest, industrial investments in mainland Norway for at least a decade. The aim is to reduce the energy consumption by 15% and to have the lowest carbon footprint in the world.

Invest in Norway sees this as another example of the will and capability to invest in traditional industry in Norway. We have abundance of 100% clean hydropower, we have long traditions in industrial development, high degree of automatization and in this example, also financial incentives. The state owned agency Enova has decided to support the project with 1,6 bill. NOK.

More about the project here.

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