NIB finances Norway's largest slaughterhouse

The Nordic Investment Bank (NIB) and the Norwegian meat and egg supplier Nortura SA have signed a loan totalling NOK 315 million (EUR 40 million) for financing the construction of a new slaughterhouse in Malvik, in Sør-Trønderlag, central Norway.

 

The loan, with a ten-year maturity, will help finance the new Malvik slaughterhouse, which will be Norway’s largest for cattle and sheep.

The new slaughterhouse will replace four of Nortura’s old slaughterhouses, as well as a meat processing plant in Trondheim. In addition, three slaughterhouses owned by the meat company Spis Grilstad will be replaced due to a cooperation agreement between Nortura and Spis Grilstad.

 

“This NIB loan for the new cost- and energy-efficient slaughterhouse will increase productivity while decreasing CO2 emissions in line with our mandate to strengthen competitiveness in our member countries and enhance the environment,” says Johnny Åkerholm, NIB President and CEO.

 

Nortura expects to more than halve their energy consumption due to the replacement of older slaughterhouses by a new modern facility. The energy reduction in Spis Grilstad is an additional benefit. The new slaughterhouse, which was finalised in August 2010, will also significantly reduce water usage.

 

Nortura SA is among the leading processors of meat and distributors of eggs in Norway. The company is organised as a cooperative owned by approximately 17,800 farmers. Nortura has industrial operations in 34 municipalities, with approximately 5,800 employees.

 

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Vidar Omholt, Senior Manager Origination, at +358 10 618 0286,

Nina Näsman, Communications, at +358 10 618 0417,