|
 |
|
|
| The early years |
|
The first projects preformed by ÍSTAK after it was found in 1970 were a hydro-electric project at Thórisvatn, the Vatnsfell utility and the expansion of the Búrfell power station. In the following years the main area of focus was road construction. In 1971 work commenced on paving the first part of a permanent road, the main ring road around Iceland.
A couple of years later work began on expanding the harbour at Thorlákshöfn. This was carried out in the shadow of the volcanic eruption in Heimaey, Westman Islands, when it was still unclear whether the harbour there could ever be used for fishing again.
All these projects, the Búrfell power station, the first stages of the ring road and the harbour at Thorlákshöfn, were funded with loans form the World Bank in Washington. The World Bank has very strict requirements on supervision and quality control on the projects it is funding. The experience gained in working for the World Bank proved invaluable for subsequent projects undertaken by ÍSTAK.
|
|
|
|
|
|
