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| ÍSTAK Ltd. |
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ÍSTAK Ltd. is a contracting company which
was founded in 1970. The company engages
in many kinds of construction projects, including
harbours, hydropowerplants, roads and airports.
It also constructs buildings for public institutions,
municipalities, companies and individuals.
Between 2001 and 2009 the company had an annual
turnover of between EUR 60- 120 million.
ÍSTAK engages in projects of different sizes.
The company usually acts as the contractor, which
means negotiating and being responsible for the complete
project, but employs subcontractors and suppliers to
handle certain tasks in accordance with special agreements.
ÍSTAK is increasingly becoming involved in turnkey projects, which means that the company is responsible for designing as
well as carrying out a particular construction project.
Private financing initiatives, when a private company constructs and operates a building for public authorities, are also becoming more common in Iceland.
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