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Avinor secures US$221m loan for Bergen Airport upgrade

Norwegian airport operator Avinor has secured a €200m (US$221m) long-term loan from the European Investment Bank (EIB) for the expansion and upgrade of Bergen Airport that will help it cater for growing traffic demand and improve passenger services at Norway’s second busiest airport.

The loan will be used to finance the construction of a new Terminal 3 and its associated airside and landside facilities. This includes a light rail station, which will improve public transport links between the airport and the city center.

Innovative technologies used for the construction of the new terminal infrastructure will help to reduce specific energy consumption by 30%, while the light rail station will encourage a modal shift from private cars, thus contributing to reduced pollution from road traffic.

Jan Vapaavuori, EIB vice president with responsibility for lending in Norway, said, “The EIB has made supporting strategic transport infrastructure one of its priorities. Bergen Airport is the key international gateway in western Norway and part of the extended trans-European transport network (TEN-T). We are therefore pleased to support Avinor’s investment, as it will enhance capacity and improve the operational efficiency of Norway’s second busiest airport while also increasing its environmental performance.”

Dag Falk-Petersen, chief executive officer at Avinor, commented, “Avinor evaluates the different capital markets to secure competitive financing and ensure a solid and robust financial position. Avinor is highly appreciative of the EIB as a sound partner for financing this important project for Avinor at Bergen Airport. With today’s transaction, we reap the benefits of a favorable market and further enhance our financial flexibility.”

Image: Nordic – Office of Architecture.

October 27, 2015


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