NIB Nordic Investment Bank

Article

15 Mar 2018

NIB finances new motorway connection in western Norway

Bergen E39

NIB and the Norwegian toll-road operator Bergen–Os Bompengeselskap AS have signed a 21-year maturity loan totalling NOK 1.5 billion (EUR 156.7 million) for the construction of a new section of the E39 motorway in Hordaland County.

The loan will finance the construction of a new, four-lane stretch of the E39 Svegatjørn–Rådal motorway with a total length of 17.7 kilometres. The new stretch of road will connect Bergen and Os in western Norway.

The project will re-route the motorway away from residential areas and reduce noise pollution by constructing a series of tunnels that will cover 14.7 kilometres of this stretch of road. 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 expansion of the E39 motorway will help to reduce travel times, congestion and overloads during peak hours, and allow for better traffic flow. Traffic in the region is expected to increase by around 12% over the next 20 years.

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%).

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. 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

Nordic Investement Bank:

Mr Stefán Jón Fridriksson, Senior Manager, Origination, at +358 10 618 0512,

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234,

Bergen-Os Bompengeselskap AS:

Mr. Stein Inge Ryssdal, Chairman of the Board, + 47 941 89 618,

Mr. Torbjørn Wilhelmsen, CEO, + 47 906 55 913,

 

 

  • AR2017

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