Haugaland Kraft and Hydro Aluminium decided in December 2007 to establish a project for the development and marketing of the two largest industrial parks in the region. The aim is to develop the Haugesund Region to a industrial growth region in Norway.

The project was initiated as a result of common ambitions for the region, and a common interest in developing their respective parks. When looking for appropriate businesses to establish in the region both parks were working towards the same projects and companies. Through cooperation one could use the resources more efficiently and take advantage of the expertise in, respectively Hydro (Karmøy Industrial Park) and Haugaland Kraft (Haugaland Industrial Park AS). The cooperation will also benefit from the experience Hydro has had in developing industrial parks elsewhere in Norway.