All agreed loans

Norway. Avinor AS

Date of loan: 29 May 2015
Country: Norway
Customer: Avinor AS
Amount in NOK: NOK 1000 million
Amount in EUR: EUR 117.2 million
Maturity: 20 years
NACE sector / loan type: Construction
Business area: Infrastructure, transportation and telecom

Project

The loan has been provided for the construction of a terminal at Flesland airport near Bergen in western Norway.

The new terminal, T3, will accommodate check-in, a baggage system, security, and departure and arrival halls on two levels. It will have six gates equipped with jet bridges that will be used for domestic travellers. When the new terminal is taken into use, Flesland airport’s capacity will increase to 10 million passengers a year from the current 6 million. The total terminal area of the airport will increase to 85,000 square metres from the current 22,000 square metres. The existing terminal will be primarily used for international traffic. Construction work began in June 2014 and is expected to be completed by summer 2017.

Flesland airport is the main hub for air traffic in the counties of Hordaland and Sogn og Fjordane in western Norway with a population of 600,000 people. In the past ten years, its passenger turnover has grown at a pace of 6% every year.

Established in 2003, the state-owned company Avinor operates a network of 46 airports in Norway. Its operations include air traffic control and technical infrastructure for aircraft navigation.

Fulfilment of NIB's mandate

Competitiveness:

The expansion of the airport infrastructure is necessary to meet the demand from increasing traffic volumes. The lack of capacity causes deteriorating quality for passengers, reductions in available destinations, and lower flight frequency and service reliability. Since Norway’s air transport is a critical asset to business and the wider economy, the investments will improve connectivity and increase productivity in the economy. Higher capacity will also reduce entry barriers in the airline services market. Improved transport infrastructure is highly likely to increase market access and mobility of the workforce, enhancing competitiveness.

Environment:

Emissions into the air, the use of de-icing chemicals and the generation of noise will increase due to the project.

Sustainability summary

The construction project’s environmental impact includes the level of noise, which is expected to decrease to acceptable levels by 2015, according to Avinor’s action plan for noise mitigation measures. Other issues expected due to the project are minor increases of emissions into the air and discharges of wastewater.

Press release

NIB finansierer ny terminal på Bergen lufthavn