All agreed loans

Norway. Posten Norge AS

Date of agreement: 24 Sep 2008
Country: Norway
Customer: Posten Norge AS
Amount in NOK: NOK 750 million
Amount in EUR: EUR 90.7 million
Maturity: 12 years
NACE sector / loan type: Post and telecommunications
Business area: Industries and services

Project

The loan has been provided for financing the construction of a new central post terminal. The new terminal with a total area of 71,400 square metres will be constructed at Robsrud on the outskirts of the capital city Oslo.

The project, expected to be completed in 2010, is part of the overall strategy to increase the efficiency of the post handling in Norway. The new terminal will allow reducing the number of regional terminals from 33 to 12.

Posten Norge is a state-owned company. It aims at becoming a leading Nordic provider of logistic services in mail, parcels and B2B goods and to be one of the leading IT service providers in Norway.

Sustainability summary

Posten Norge's new post terminal is expected to have some positive logistical effects as it will be situated close to main roads, an airport, and a freight train terminal.

It is, however, also expected that the new terminal will increase the use of private transport vehicles on the way to and from the workplace, thus increasing the total amount of emissions from transportation (CO2, NO2 and particulates).

The new terminal is being built on what was formerly agricultural land in an uninhabited area. Good solutions have been chosen in respect to the heating, cooling and lighting of the building (using ground heat and heat pumps for heating and cooling). The project is reported to have received all the necessary permits.