NIB finances train workshop expansion in Norway

NIB has entered into a 10-year NOK 750 million (approx. EUR 63.5 million) loan agreement with Bane NOR Eiendom AS. The loan will co-finance the expansion and refurbishment of two train workshops in Grorud, Oslo, and Sundland, Drammen. Due to the introduction of longer electric trains catering to an increasing demand in rail passenger traffic, there is a projected 30–50% increase in maintenance needs over the next decade. There is therefore a need to expand the capacity of train workshops.

Norway’s rail passenger traffic is expected to increase over the next 10-15 years. Norske Tog, who is responsible for purchasing and managing the Norwegian train fleet, plans to purchase 250 new trains by 2033 to meet this demand.

The new electric trains are longer than the existing units and have different maintenance needs which require modern and suitable workshops.

The Grorud workshop projects include extensions of inside tracks, increased outside train parking capacity and the renewal of buildings. The planned projects will also increase the capacity for the installation of the European Rail Traffic Management System (ERTMS) –a new nation-wide centralised signalling system, which will be installed in all existing and new trains.

The workshop in Sundland will be extended to accommodate trains of up to 220 metres—considerably longer than the current fleet.

“With this loan agreement, we aim to facilitate cleaner transport methods and enhance the energy efficiency of the workshops. It’s a direct response to the evolving requirements of our transport sector,” says Harald Rokke, Director, Infrastructure & Project Finance, and Country Lead for Norway.

Bane NOR Eiendom AS, a subsidiary of the state-owned Bane NOR SF, owns, develops and manages railway stations, workshops and other properties connected to the Norwegian railway.

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.

For further information, please contact
Harald Rokke, Director, Infrastructure & Project Finance, and Country Lead for Norway, +358 10 618 0286, harald.rokke@nib.int 
Arild Moen, Associate Director, Communications, +358 10 618 0496, arild.moen@nib.int