Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. 24/7 Space News .




ICE WORLD
Iceland says no to Chinese tycoon's land purchase: ministry
by Staff Writers
Reykjavik (AFP) Nov 25, 2011


Iceland on Friday denied a request by a Chinese property tycoon to purchase a large swathe of land in the northern part of the island for a tourist resort, Interior Minister Oegmundur Jonasson said.

"It is not possible to say yes to the request of the Chinese company... to get an exemption to buy land," Jonasson told reporters.

The refusal was unexpected, coming two weeks after Iceland's economic affairs ministry said it was favourable to Huang Nubo's plans and recommended the interior ministry approve the request.

"The ministry of economic affairs sees no reason to believe that Iceland's interests are in any way threatened by the foreign investment in question," its minister Arni Pall Arnason wrote in a memo to Jonasson, released on November 10.

Huang Nubo had asked the Icelandic government in late August for permission to buy 300 square kilometres (200 square miles) of Icelandic wilderness to build a resort, since the land is partly owned by the government and approval is required for a non-resident of the European Economic Area to buy land.

Huang, whose property company Zhongkun Group owns resorts and tourist facilities across China and the world, offered to buy the land known as Grimsstadir a Fjoellum for $10 million and wanted to invest about $200 million (147 million euros).

He said he wanted to build a luxury resort with a hotel, golf course and sports facilities, and Europe's biggest nature reserve.

"We could not allow this no matter how you look at it," Jonasson said.

"We are talking about a land purchase on such a large scale that if we had agreed to an exemption one could say that the law was null and void and... that anyone who applied for an exemption after this would be allowed to buy, simply because of such a precedent."

Huang's representative in Iceland, Halldor Johansson, expressed "disappointment" and said he was "astonished" by the decision, according to news website visir.is.

He said Icelandic legislation did not specify any restrictions on the size of land that could be bought.

Icelandic Prime Minister Johanna Sigurdardottir also said she regretted the decision.

"The decision is a disappointment," she told visir.is, adding that the ruling had been based on "a very narrow interpretation of the law."

She stressed however that it was in Jonasson's power to make the decision, and that he had not sought out the government's opinion.

Friday's decision is final and cannot be appealed, Jonasson said.

Jonasson added that in his personal opinion, "I think we should put a halt to foreign ownership of Icelandic land", a reference to the uproar brought on last year when Canadian company Magma bought an Icelandic electricity producer, HS Orka.

Icelandic observers had suggested that Huang's purchase could help Beijing get a foothold in the Arctic region, as the melting ice cap means lucrative oil and gas deposits under the seabed could soon become accessible and shorter shipping routes open up.

.


Related Links
Beyond the Ice Age






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ICE WORLD
Study: Arctic ice melting 'unprecedented'
London (UPI) Nov 23, 2011
Arctic sea ice has declined at an unprecedented rate during the past 50 years, a study in the British journal Nature said. The study, published online Wednesday, said both the duration and magnitude of the current decline in sea ice "seem to be unprecedented for the past 1,450 years." By analyzing sea ice for chemicals such as salt and methanesulfonic acid and comparing findings ... read more


ICE WORLD
Schafer Corp Signs Licensing Agreement with MoonDust Technologies

Russia wants to focus on Moon if Mars mission fails

Flying over the three-dimensional Moon

LRO Camera Team Releases High Resolution Global Topographic Map of Moon

ICE WORLD
ESA station keeps contact with Russian Mars mission Phobos-Grunt

Data beamed from Russia Mars probe deciphered

No further contact with stranded Mars probe: ESA

Hamilton Sundstrand Rocketdyne to Power 'Curiosity' Rover on Mars

ICE WORLD
Thanksgiving in space may one day come with all the trimmings

More U.S. science degrees by foreign-born

ULA Completes Milestone Toward Certifying Atlas V For Human Spaceflight

Space Law Symposium to Examine National Space Laws

ICE WORLD
15 patents granted for Chinese space docking technology

China plans major effort in pursuing manned space technology

Tiangong-1 orbiter enters long-term operation management

China launches two satellites: state media

ICE WORLD
Satellite junk no threat to space station crew

Space Station Trio Lands Safely in Kazakhstan

Russian Soyuz brings astronauts safely back to Earth

New Trio Welcomed Aboard Station, Gets to Work

ICE WORLD
Pleiades 1 is readied for launch

SpaceX Searches For New Commercial Launch Site

Mobile Launcher Moves to Launch Pad

Rocket engineer Wolfgang Jung a logistics expert for space science

ICE WORLD
Habitable Does not Mean 'Earth-Like'

Exo planet count tops 700

Giant planet ejected from the solar system

Three New Planets and a Mystery Object Discovered Outside Our Solar System

ICE WORLD
Carbon nanotube forest camouflages 3d objects

The impending revolution of low-power quantum computers

RACR Competes in South Korean F-16 Radar Procurement

Butterfly wings inspire design of water-repellent surface




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement