IPC has begun construction of the third phase of Lágafellsskóli school in the Reykjavík suburb of Mosfellsbaer. The new annex will lie to the northeast of the main school building, which was constructed by the Company in 2001. The unique characteristic of the building is its arc-shaped design. The arc has a 400-metre radius, and the floor area of the new annex will be some 1,400 square metres. Part of the building is on two storeys, and the section that will be devoted to art workshops and after-school day care has higher ceilings than is customary. The main hallway, which lies along the length of the building, features double ceiling height.

The project involves the construction of the building and all exterior and interior finishing work, including interior fixtures and full finishing of the surrounding lot. It is expected that work will be complete in July 2007 so that instruction can begin in August. An average of 20-25 employees will work on the project. Project manager is Sigurdur Örn Jónsson, and construction site manager is Baldur Reynisson.