All agreed loans

Norway. Bane NOR Eiendom AS

Date of agreement: 1 Apr 2020
Country: Norway
Customer: Bane NOR Eiendom AS
Amount in NOK: NOK 1000 million
Amount in EUR: EUR 88.52 million
Maturity: 10 years
NACE sector / loan type: Supporting and auxiliary transport activities
Business area: Infrastructure, transportation and telecom

Financing from NIB Environmental Bond proceeds

NEB-eligible share: 77%
NEB category: Clean transport solutions
Amount disbursed: EUR 34.4 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

NIB has provided a loan facility of NOK 1 billion, of which NOK 500 million is committed, to co-finance Bane NOR Eiendom’s (BNE’s) investment in railway maintenance facilities planned for 2019-24.

The investments are part of the national rail transport plan for 2018 -2029 to restructure and developing the rail transport sector.

BNE started renewal and refurbishment of maintenance facilities in 2018. Total investments is currently estimated at NOK 2 billion.

The plan is to bring up ten workshops to meet the current required standard for handling modern electric train equipment. BNE will build and maintain the maintenance facilities and then rent these to train maintenance companies, offering traffic services to railway companies.

Bane NOR Eiendom AS is a subsidiary of the state-owned Bane NOR SF. Bane NOR Eiendom owns, develops and manages railway property in Norway.

Fulfilment of NIB's mandate

Productivity
The investment will enhance services and support the expansion of public transport infrastructure to meet increased demand from a growing population. Increased maintenance capacity will support the estimated growing traffic rates and increase in number of trains.

Indicators for the expected productivity impact of the investment:

  • Number of trains maintained and average time spent in workshop
  • Increase in passenger demand
  • Growth in rolling stock

The investment is for supportive infrastructure for rail transports, primarily electrical trains. Refurbishing existing workshops is likely to result in a more efficient use of the premises.

Indicators for the expected environmental impact of the investment:

  • Development in energy use for individual maintenance facilities and BNE’s overall property portfolio
  • Energy use in new maintenance facilites as kWh/m2/yr

Sustainability summary

The construction and refurbishment does not include significant environmental or social impacts.

Press release

NIB finansierer Bane NOR Eiendoms togverksteder