Norway to back industry power deals with $3.3 bln

Norway's centre-left coalition government is struggling to gather enough support to maintain its parliamentary majority in next month's election, reports Reuters.

Norway's centre-left coalition government is struggling to gather enough support to maintain its parliamentary majority in next month's election, reports Reuters.

OSLO, Aug 21 (Reuters) – Norway plans to establish a state guarantee scheme next year worth up to $3.3 billion to promote long-term electricity contracts in power-intensive industries, the government said on Friday.

“The new guarantees will secure industry jobs,” Prime Minister Jens Stoltenberg said in a statement.  The government aims to put forward the proposal in its budget for 2010, it said in the statement.

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