Water exporting firm Icelandia Plc., owned by British and Icelandic entrepreneurs, is currently engaged in financing an ISK 3 billion (USD 43.5 million) water bottling plant to be raised in the town of Rif, on the Snaefellsnes peninsula, west Iceland. The company has secured rights to water in the town of Snaefellsnesbaer for the next 95 years. This is reported by RÚV online.
The plant will be 15,000 square meters in size and is expected to have a production capacity of 600 bottles per minute. Initially it will employ 40 people. The company hopes to be able to construct the factory by the end of the year, and to begin production by year-end 2007.