All agreed loans

Sweden. Swedavia AB

Date of loan: 21 Dec 2017
Country: Sweden
Customer: Swedavia AB
Amount in SEK: SEK 2000 million
Amount in EUR: EUR 200.43 million
Maturity: 10 years
NACE sector / loan type: Construction
Business area: Infrastructure, transportation and telecom

Project

The loan will finance the construction of a new pier at Terminal 5 at Stockholm Arlanda Airport, Sweden.

The new pier will add 14 aircraft stands that can receive larger planes. In addition, greater capacity and new technology for baggage facilities will be added. The investment will help the airport to accommodate the increasing passenger turnover.

The project is part of an extensive investment programme initiated by Swedavia to improve transport infrastructure and increase traffic volumes at a number of airports. Construction of the new pier at Arlanda will begin in 2020 and is scheduled for completion in 2025.

Swedavia AB is fully owned by the Swedish state. The company operates and develops ten airports in the country, and is in charge of all commercial airport operations. In 2017, over 40 million passengers travelled through Swedavia airports.

Fulfilment of NIB's mandate

Competitiveness:

The number of passengers travelling through Stockholm Arlanda Airport is assessed to grow 2.3% annually from 2016 until 2050. The rapid urbanisation in the country is also expected to affect travel patterns and create pressure on transport and logistics. The new pier and other transport infrastructure at the airport will support the anticipated growth in traffic and allow for an increase in the frequency of departures and level of service. The elimination of current capacity constraints is likely to enable new flight connections, in particular intercontinental routes.

Environment:

In 2016, the total emissions from landing and take-off cycles and other transport at Arlanda amounted to 321,000 tonnes of CO2. It is estimated that the expansion and increase in traffic volumes may lead to an increase in emissions of CO2 and NOx. Also, noise levels will increase.

Swedavia has an environmental strategy in place and aims to be fossil-free in their airport operations by 2020. Further, the company has a guideline to BREEAM certify new construction of strategical interest in their operations.

Sustainability summary

Swedavia’s existing construction permit was granted in 2016. However, since the foundation must be placed below current groundwater level, groundwater extraction will be necessary. Swedavia has applied for permission for this procedure, and a court order is expected in spring 2018.

Press release

NIB finansierar en ny pir på Arlanda