The groundbreaking for the hydropower plant is expected to proceed by year-end 2010, and for the smelter in 2012.
The two units combined, once operational, will employ up to 1,200 mainly immigrant workers. Greenland has a population of less than 60,000, and a labour shortage is expected.
Concerns have been raised in Greenland's parliament that the island's economy is too fragile to accommodate major projects such as the Alcoa smelter venture, and that the island is rushing too hastily into metals (and oil field) developments before it has proper monitoring and legal systems in place to manage large-scale industrial schemes.
"We are satisfied with progress made, and confident that we can be...