All agreed loans

Finland. Finavia Corp.

Date of loan: 16 Dec 2015
Country: Finland
Customer: Finavia Corp.
Amount in EUR: EUR 150 million
Maturity: 20 years
NACE sector / loan type: Construction
Business area: Infrastructure, transportation and telecom

Project

The loan is to finance the expansion of the non-Schengen terminal and the construction of new aprons and taxiways at Helsinki Airport.

The project includes both land and airside investments that support the anticipated increase in traffic volumes at the airport, and will be carried out during 2015–2020. The total project cost is approximately EUR 464 million. After the construction phase is completed, the airport will have capacity for 20 million passengers. The extension of airside facilities will add new aircraft stands, a new taxiway and eight new passenger bridges for wide body aircrafts. The international terminal will be expanded by 75,000 square metres.

Finavia Corp. operates a network of 24 airports and provides Finland’s air navigation services. Finavia currently serves over 19 million passengers annually.

Fulfilment of NIB's mandate

The improved transport infrastructure is expected to result in a reduction of travel and waiting times, an improvement in service reliability and a reduction of operating costs. The investment will strengthen the airport’s position as the leading long-haul airport in Northern Europe.

The increase in the airport’s capacity will double the number of landing and take-off cycles by 2025. This is assessed to increase the environmental impact of the airport, which includes noise, emissions to the air and pollution of surface and ground waters. The environmental impact of the project is rated negative.

Sustainability summary

The number of inhabitants residing within the aircraft noise area is expected to increase from approximately 14,000 to 20,000 due to the airport capacity extension. Finavia has a noise mitigation management plan in place. Emissions to air are assessed to increase, as they rise proportionally with the number of landings and take-offs. As there are no residential buildings in direct vicinity of the airport, the impact on ambient air quality is assessed not to be significant.

During 2008–2014, the aircraft de-icing system was rearranged, which helped reduce the environmental load. In future, de-icing will only be allowed in areas connected to sewerage. If contamination is identified in the areas of the new infrastructure, specific constructions could be required.

In 2014 and 2015, pollutants used in fire-fighting foam was found in elevated levels in ground water near the airport’s fire-fighting area. The Päijänne tunnel that supplies water to the Helsinki metropolitan area runs in approximately 1 kilometre distance from the area. Finavia will monitor contamination levels in both ground and surface waters in the vicinity of the airport.

Press release

NIB rahoittaa Helsinki-Vantaan lentoaseman laajennusta

 

Press release

NIB finansierar terminalutbyggnad på Helsingfors-Vanda flygplats