Norway. Bane NOR Eiendom AS

Date of agreement:24 Oct 2023
Customer:Bane NOR Eiendom AS
Amount in NOK:NOK 750 million
Amount in EUR:EUR 63.5 million
Maturity:10 years
NACE sector / loan type:Transport via railways

This loan contributes to climate change mitigation: 90%


The loan has been provided to Bane NOR Eiendom AS for expanding and refurbishing two train workshops, one in Grorud (60,000 m2) in Oslo and the other in Sundland (17,600 m2) in Drammen outside of Oslo.

Rail passenger traffic is expected to increase over the next 10-15 years. Norske Tog, who is responsible for purchasing and managing the Norwegian train fleet, plans to purchase 250 new trains by 2033 to meet this demand. The new electric trains are longer than existing trains and have different maintenance needs, which require modern and suitable workshops.

The project concerning the workshop in Grorud includes extensions of inside tracks, increased outside train parking capacity and renewal of buildings. The planned projects will also increase the capacity for the installation of the European Rail Traffic Management System (ERTMS), a new nation-wide centralised signalling system, which will be installed in all existing and new trains.

The workshop in Sundland will be extended to accommodate trains up to 220 meters long—considerably longer than the current fleet.

Bane NOR Eiendom AS is a subsidiary of the state-owned Bane NOR SF and owns, develops and manages railway stations, workshops and other properties connected to the Norwegian railway.

Fulfilment of NIB's mandate


In the next decade will see a 30-50% increase in maintenance needs due to the growing demand for passenger traffic on Norwegian railways. This requires investments in train workshops to meet the future maintenance demand of the Norwegian train fleet.

Given that railways have the potential to contribute to achieving climate targets, investments are being made to address constraints, such as the need for implementation of the new signalling system ERTMS, and to enhance the safety, efficiency, and punctuality of the existing rail network.


The project will contribute to clean transportation.

Expected environmental impact:

  • Number of reconstructed workshops for train maintenance and service (2 units)

Sustainability summary

No significant realisation risks have been identified.

Press release

NIB finances train workshop expansion in Norway

Press release

NIB finansierer oppgradering av togverksted i Oslo og Drammen