3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||26 Sep 2018|
|Amount in NOK:||NOK 1,000 million|
|Amount in EUR:||EUR 104.52 million|
|NACE sector / loan type:||Land transport|
|Business area:||Infrastructure, transportation and telecom|
The loan finances the construction of a new four-lane section of the E18 motorway connecting Tvedestrand to Arendal in Aust-Agder County, Norway.
The project involves the construction of 23 kilometres of four-lane motorway, as well as four tunnels, six larger bridges and two grade-separated junctions.
The new connection will replace the existing two-lane road. Further, a new road section linking the communities of Longum and Krøgenes will be constructed.
The E18 motorway is one of Norway’s main transport corridors. The new road section is expected to improve traffic flow and alleviate the burden of heavy traffic on local communities.
Ferde AS is one of Norway’s five new regional toll road companies. It is owned by the counties of Hordaland, Sogn og Fjordane, Rogaland, Vest-Agder and Aust-Agder.
The construction of a new four-lane section of the E18 motorway is expected to improve the flow of heavy traffic as well as the reliability and predictability of travel times. Further, the investment aims to reduce the number of accidents on the motorway. The initial toll period for the new road will be 15 years.
This is a project with a potentially extensive environmental and/or social impact (category A, read more)
The construction has required expropriation of large areas of undeveloped land and residential properties, and is thus expected to have negative impacts on nature values and recreational use of the area. Relevant permitting and impact mitigation measures are in place.