The FINANCIAL — The Nordic Investment Bank (NIB) and the Norwegian special purpose vehicle Vegfinans Rv23 Dagslett-Linnes AS have signed a long-term loan agreement totalling NOK 1,000 million (EUR 106 million) for the construction of a road connection and tunnel south of Oslo.
The 20.5-year maturity loan finances a new road section and a tunnel from Dagslett to Linnes in the county of Buskerud about in southern Norway. The 5.5-kilometre section will include a 2.2-kilometre tunnel, two crossings and a bridge, according to NIB.
The new road section is expected to reduce travel time, alleviate congestion problems and improve traffic safety.
“The expected outcome of the investment will improve logistics for local business. This will positively affect productivity and the economy of the region”, says Henrik Normann, NIB President & CEO.
The new road is expected to open for traffic in 2021. The total project cost is estimated at NOK 2,420 million.
Vegfinans Rv23 Dagslett-Linnes AS is a special purpose company established by the road construction company Vegfinans A/S.