Greeenland could produce 500 million litres of bottled-water

Greenland could become a big player in that market.

Experts say that by melting and bottling only 5% of the fresh ice that forms each year in Greenland, 500 million litres a year would be produced.

That is equivalent to Canada's entire annual water export to the United States.

Under the proposals being considered by the parliament, an elevated pipeline would carry water from a glacier directly to a bottling plant.

The investors are seeking a guarantee of exclusive sales and distribution rights for at least 25 years.

In return, they would bear the brunt of the project's estimated $40m start-up costs.

Economic independence

It is thought that Greenlanders would retain ownership of the resource through the sale of shares to the government.

This, added to other incomes that the project could generate might change the country's economic future.

Greenland is a Danish protectorate and depends on its mother country for economic survival.

But the BBC's Fiona Werge says that the island's authorities may well see the ice melting plan as a way of obtaining economic independence.