New Transport Center to Rise in Reykjavík Next Fall Skip to content

New Transport Center to Rise in Reykjavík Next Fall

Minister of Transport Kristján L. Möller said work on an urban planning proposal for a new transport center in Reykjavík is almost finished and the minister assumes that the center’s construction can begin in autumn 2010.

However, the method of the collection of fees for using and renting the facilities has yet to be decided, Morgunbladid reports.

The estimated cost for constructing the center is ISK 2-2.5 billion (USD 16-20 million, EUR 12-15 million). The building will be 3,700 square meters in size, significantly smaller than originally planned.

The plan is for the Icelandic pension funds to provide loans for the project and their representatives are pleased with the business model they have been presented with.

Click here to read earlier news of the transport center.

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