Peab and Northland sign Letter of Intent to form a company for transport logistics
Peab and Northland have signed a Letter of Intent to form a joint venture that will manage the entire logistical chain, transporting iron ore from the Kaunisvaara mine in Pajala to the loading of ships in Narvik.The ambition is to establish the joint venture during the third quarter of 2011, and that one or two additional partners will be invited to become shareholders.The joint venture is scheduled to be operational by the end of 2012, which coincides with the start of production in Kaunisvaara. The joint venture will manage the entire logistic chain, which includes the loading of iron