Loan for modern motorway access to Gdansk

On 28 July, NIB signed a loan agreement with the ownership consortium Gdansk Transport Company S.A. for an amount of EUR 140 million.

The loan with a repayment period of 30 years is granted for the financing of 90 km of the A1 dual carriage motorway from Gdansk to Nowe Marzy in northern Poland.

“The project fits well into the development strategy for motorways in the Baltic Sea region. The Gdansk area is growing into a principal logistic hub for the whole region. We believe the project will strongly promote the competitiveness of the transport system in the whole Baltic Sea Area. Apart from being vital for Poland, this development is very important for the Nordic countries and the EU,” says Erkki Karmila, executive vice president of NIB.

According to Mr Karmila, this is the largest individual loan provided by the Bank.

The A1 motorway will enable a new fast transport route for the Baltic Sea Area to Central and Southern Europe. The motorway is part of the Trans-European Transport Corridor No. VI, which in Poland goes from Gdansk in the north via Lodz to Katowice further to the south.

The project will be implemented as a public-private partnership, in which the Gdansk Transport Company is granted concession by Poland’s government. The financing is provided by NIB and EIB. The ownership consortium that is led by Swedish Skanska BOT and includes British Laing Roads, South African Intertoll and Polish NDI is responsible for financing, constructing and operating the road. The motorway is to be completed by November 2008.