All agreed loans

Norway. Nortura SA

Date of loan: 17 Dec 2014
Country: Norway
Customer: Nortura SA
Amount in NOK: NOK 330 million
Amount in EUR: EUR 36 million
Maturity: 10 years
NACE sector / loan type: Manufacture of food products and beverages
Business area: Industries and services

Environmental effect

Financing from NIB Environmental Bond proceeds

Share of financing: 100%
Amount disbursed: EUR 36 million

Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds

Project

The loan has been provided for Nortura SA to finance construction of a new white meat slaughterhouse in Hærland, Norway. The new facilities will replace the existing slaughterhouse in Rakkestad and some parts of the existing operations in Elverum. The new slaughterhouse begins its operations by the end of 2014.

The new slaughterhouse will be one of the most modern white meat processing facilities in Europe. It will optimise the company’s production in general and improve overall efficiency, delivering savings in operating costs. The total project cost is estimated to be NOK 660 million, but the savings when the facility is up and running will be approximately NOK 150 million annually from year 2016 onwards.

Fulfilment of NIB's mandate

Competitiveness:
The project will increase overall production capacity, and the centralisation of slaughterhouse operations is likely to reduce logistics costs in the value chain.

Environment
Due to the replacement of existing slaughterhouses, the energy usage will decrease by almost 30% annually, even though the investment will increase the slaughtering capacity by 30%. The heating system in the new slaughterhouse will utilise waste heat from the cooling processes, which will reduced energy usage substantially. Organic waste will be utilised in the production of animal feed or biogas.

Sustainability summary

The most significant environmental issues associated with slaughterhouse operations are discharges of organic matters into water, use of energy and emissions of odorous gases.

Press release

NIB finansierer Norturas nye fabrikk for hvitt kjøtt