Norway. Bane NOR Eiendom AS
| Date of agreement: | 01 Apr 2020 |
|---|---|
| Country: | Norway |
| Customer: | Bane NOR Eiendom AS |
| Amount in NOK: | NOK 1,000 million |
| Amount in EUR: | EUR 88.52 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Supporting and auxiliary transport activities |
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 77%
NEB category: Clean transport solutions
Amount disbursed: EUR 34.4 million
This project has been financed with the proceeds of NEBs issued under the previous framework
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.
