NIB Nordic Investment Bank

Loan

Norway. Bergen–Os Bompengeselskap AS

Date of loan: 15 Mar 2018
Country: Norway
Customer: Bergen–Os Bompengeselskap AS
Amount in NOK: NOK 1,500 million
Amount in EUR: EUR 156.7 million
Maturity: 21 years
NACE sector / loan type: Land transport

Sectors

Infrastructure, transportation and telecom

Project

The loan has been provided to finance the expansion of the E39 Svegatjørn–Rådal motorway connecting Bergen and Os in Hordaland County, Western Norway.

The project concerns the construction of 17.7 kilometres of four-lane motorway between the municipalities of Bergen and Os, 14.7 kilometres of which will be in tunnels. The project will re-route the motorway away from residential areas, and is expected to remove bottlenecks and cut travel times by half. The road will be a toll road for an initial period of 18 years.

Further, a new section of the national road 580, which connects Bergen’s airport to the E39, will be constructed.

The E39 is one of the country’s main transport corridors and connects Kristiansand in the south to Trondheim in central Norway. Construction work started in 2015, and is scheduled for completion in 2022.

Bergen–Os Bompengeselskap AS is owned by Hordaland County (52%), the municipality of Bergen (24%) and the municipality of Os (24%).

Fulfilment of NIB's mandate

Competitiveness:

The expansion of the E39 motorway will help to reduce travel times, congestion and overload during peak hours, and allow for better traffic flow. Over the coming 20 years, traffic in the region is expected to increase by around 12%.

Unlike the existing connection, the new stretch of road will not be running through residential areas and have state-of-the-art safety standards.

Environment:

Initially, the total traffic volumes for both the new and existing road connections are expected to decrease due to the road toll. In the long run, traffic is expected to increase. The new stretch of road will mainly run in tunnels, which will reduce the noise impact on the surroundings. The improved curvature and course of the road are also expected to contribute to a decrease of emissions from vehicles travelling the road.

Sustainability summary

This is a project with a potentially extensive environmental and/or social impact (category A, read more)

The main environmental and social concerns related to the project are noise, water pollution, habitat destruction and local air quality, as well as wider effects such as increasing vehicle emissions. An environmental impact assessment has been carried out. Noise mitigation measures, such as terrain shaping and sound barriers, will be installed. Water used in the tunnel construction will be treated before being discharged.

Back to agreed loans

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