Billions of kroner await Hydro / News / The Foreigner

The Foreigner Billions of kroner await Hydro. Updated: Norwegian company Hydro stands to get billions in state support if it plays ball, according to Minister of Trade and Industry Trond Giske. His promise comes amongst union worries over Norwegian jobs. Hydro is investing heavily abroad, and the state helped the company buy up Brazilian mining company Vale last year, paying 4.4 billion kroner. Trond Giske confirms Norway could now be willing to spend approximately the same amount, but only if Hydro shows a willingness to help secure jobs at home.

hydro, trondgiske, norwegianministeroftradeandindustry



The Foreigner Logo

The Foreigner is an online publication for English speakers living or who have an interest in Norway. Whether it’s a glimpse of news or entertainment you’re after, there’s no need to leave your linguistic armchair. You don’t need to cry over the demise of the English pages of Aftenposten.no, The Foreigner is here!

Norske nyheter på engelsk fra Norge. The Foreigner er en engelskspråklig internett avis for de som bor eller som er interessert i Norge.

Google+ Google+ Twitter Facebook RSS RSS



News Article

LATEST:

}

Billions of kroner await Hydro

Published on Tuesday, 12th April, 2011 at 09:58 under the news category, by Michael Sandelson   .
Last Updated on 12th April 2011 at 13:22.

Updated: Norwegian company Hydro stands to get billions in state support if it plays ball, according to Minister of Trade and Industry Trond Giske.



His promise comes amongst union worries over Norwegian jobs. Hydro is investing heavily abroad, and the state helped the company buy up Brazilian mining company Vale last year, paying 4.4 billion kroner.

Trond Giske confirms Norway could now be willing to spend approximately the same amount, but only if Hydro shows a willingness to help secure jobs at home.

“We expect that Hydro will back industrial development in Norway and have the money ready,” he tells Klassekampen.

The minister goes on to say the state has previously shown several companies, including Hydro, it is willing to give financial backing if their investment plans are sound. He also states it will have to deliver good results and create jobs geared towards the future.

"I believe they understand this and are working on plans that focus on developing Norwegian industry."

Hydro did not wish to issue a statement to The Foreigner before publishing its Q1 results at the end of April.



Published on Tuesday, 12th April, 2011 at 09:58 under the news category, by Michael Sandelson   .
Last updated on 12th April 2011 at 13:22.

This post has the following tags: hydro, trondgiske, norwegianministeroftradeandindustry.





  
Do NOT follow this link or you will be banned from the site!