Hringvegur (1) um Ölfusá

The project will involve the construction of a 330-meter-long cable-stayed bridge and connecting a four-lane motorway to the existing Highway 1 in the vicinity of Selfoss town in South Iceland. The new bridge (“Ný Ölfusárbrú”) will help alleviate pressure on the existing 80-year-old bridge, which has become obsolete for heavy traffic and frequently congested during peak hours. The new bridge will also serve as a bypass from Selfoss town centre.

The bridge will carry utility pipes and cables for the surrounding area and is designed to withstand major earthquakes. Furthermore, the project includes pass-through tunnels for pedestrians, cyclists, and vehicles. The adjacent roads on either side of the bridge will connect to the existing Highway 1, which encircles Iceland. It partly crosses a farmland and drained wetlands.
Main environmental impacts identified in the Environmental Impact Assessment (EIA) are related to potential negative impact on the natural environment and heritage. Increased levels of noise and disturbances are expected during the construction phase.

Construction commenced in January 2025 and is due to be completed in October 2028.

NIB will conduct a site visit as part of the review process. The Project is classified as “Category A” according to NIB’s Sustainability Policy and Guidelines.

NIB welcomes comments on the project in question.

NIB Contact Information

info@nib.int / Please write “Category A project” in the subject field.
Nordic Investment Bank
Environmental Unit
P.O. Box 249
FI-00171 Helsinki
Finland

This document was prepared and disclosed at an early stage of NIB’s review of the project, before consideration by NIB’s Board of Directors. Details of the project may change following disclosure.
The Environmental Impact Assessments (EIA) and EIA summaries are produced by the project sponsors, and NIB makes them available without any comment or implied endorsement. Any views expressed or statements made in the EIA or the EIA Summary do not necessarily reflect the views or opinions of NIB.

NAME: Þ.G. verktakar ehf.
phone: +354 534 8400
e-mail: tgverk@tgverk.is
Address: Lágmúli 7, 108 Reykjavík