Heavy industry projects have low returns, displace jobs

The required return on investment of the hydroelectric power plant at Kárahnjúkar was too low said Ágúst Gudmundsson, chairman of Bakkavör on the current affairs program Kastljós (Spotlight) Tuesday. Gylfi Zoega, professor of economics at the University of Iceland, claimed that the heavy industry projects in northeastern Iceland were the cause of the substantial problems currently being suffered by Iceland’s export industries.

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