NIB finances Coop’s main logistics centres in Norway

NIB has signed a 10-year NOK 500 million (EUR 47.32 million) loan agreement with Coop Norge SA for the expansion and development of its two main Logistic Centres located close to Oslo, Norway.

Coop’s logistic centre CLog near Oslo Airport, has reached maximum capacity and will be expanded by 33,000 square meters from today’s 52,000 square meters. Once finished, CLog 2.0 will become the largest and most advanced logistic center in Norway.

Within DIY and non-food, Coop will further reduce costs and improve deliveries to stores and online customers by developing a fully automated logistic centre at Langhus, opening early 2021.

Coop is owned by 1.8 million co-owners, and is Norway’s second largest grocery retailer, managing more than 1,200 grocery stores in 6 different formats: Obs, Extra, Coop Mega, Coop Prix, Marked and Matkroken. In addition, Coop operates approximately 120 DIY stores; Obs BYGG and Coop Byggmix. Coop Norge SA manages procurement, assortment, chain management, marketing and logistics on behalf of 70 local cooperatives.

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, from the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Vagn Lundhøj, Senior Manager, Origination, at +358 10 618 0370, vagn.lundhoj@nib.int

Mr Arild Moen, Senior Communications officer, at +358 10 618 0496, arild.moen@nib.int