All agreed loans

Norway. NorgesGruppen ASA

Date of agreement: 22 Mar 2013
Country: Norway
Customer: NorgesGruppen ASA
Amount in NOK: NOK 172 million
Amount in EUR: EUR 22.8 million
Maturity: 10 years
NACE sector / loan type: Retail trade, except of motor vehicles and motorcycles
Business area: Industries and services

Project

The loan has been provided for the financing of a regional distribution hub in the vicinity of Tromsø, Norway. Completed in October 2011, the new distribution hub handles all of the logistical operations of NorgesGruppen’s wholesale division in Northern Norway. The new hub annually cuts the absolute use of energy by 3 GWh, as well as reduces the direct exposure to operational noise and air emissions compared with a former hub located in the city centre. Additionally, the need for road transportation has decreased by 230,000 km, due to the location of the new hub. 

NorgesGruppen ASA is the largest food retail chain in Norway with a 38.5% market share. Its wholesale operation ASKO is the largest in Norway. The retail stores in Norway are within the chain concepts Meny, SPAR, Kiwi, Joker and Ultra.

Fulfilment of NIB's mandate

The project has increased NorgesGruppen’s productivity by reducing cost related to logistical operations as well as by increasing the company’s handling capacity in the region.

Sustainability summary

The direct environmental issues are the decrease in energy usage and road transportation.  Additionally, direct operational exposure in the form of noise and air emission is diminished, as the new hub is located outside the city centre in an area dedicated for light industry.

Press release

NIB finansierer regionalt distribusjonssenter i Tromsø