24 Feb 2020
EUR 75 million
Industries and services
NIB and the Swedish water services company Norrvatten have signed an uncommitted loan facility of SEK 500 million (EUR 47 million) to finance fresh water infrastructure renovations in the Stockholm region.
The 30-year framework loan agreement gives Norrvatten an option to use NIB funding for the improvement of the Görväln water treatment plant (WTP) as well as the extension and refurbishment of water pipelines and external facilities in the northeast of Stockholm.
Norrvatten produces fresh water for 14 municipalities located north of the Swedish capital, a region that is experiencing rapid population growth.
The improvement of the Görväln WTP will increase its production capacity by 10% by 2021 and will allow the organisation to meet the growing demand for drinking water. Currently, the plant provides water for a population of 600,000, and the refurbishment will enable Norrvatten to supply up to 740,000 inhabitants by 2023.
Moreover, investments in infrastructure renewal will prevent leakages and water losses, ensuring a resource-efficient water supply.
The refurbishments will also enable Norrvatten to maintain its water treatment operations, ensuring quality drinking water supply that is compliant with increasingly stringent regulations.
“This agreement supports Norrvatten’s efforts to secure a sufficient fresh water production in the face of challenges related to population growth and climate change,” says Henrik Normann, NIB President & CEO.
This is the second loan facility agreement between Norrvatten and NIB. The first loan was signed in 2015 to finance its infrastructure investment programme.
Norrvatten is a municipal federation that was established in 1926 and currently comprises 14 municipalities located in the northern part of Stockholm region. The organisation is the fourth largest water producer in Sweden.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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