Huang Nubo, a Chinese tycoon, has revived his plan to buy a vast tract of land in Iceland, only weeks after the deal was rejected by the Reykjavik government.
The proposal, under which Mr Huang sought to buy 300 sq km of heathland to build a resort, has sparked a heated debate in Iceland over the role of foreign investment. In China, it has come to be seen as epitomising the prejudice that Chinese investors face abroad.
Representatives of Zhongkun, Mr Huang’s company, met officials of Iceland’s Ministry of Industry, Energy and Tourism yesterday to discuss the possibility of a restructured deal. “We are looking for a new way to take this forward,” Mr Huang told the Financial Times. “I am somewhat optimistic.”
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