Release date: 22 November 2005
Promoter – Financial Intermediary
Statens vegvesen, Vegdirektoratet (“Vegdirektoratet”), a statutory body responsible for the improvement and maintenance of national roads.Location
Description
Upgrade, operate and maintain the E18 motorway between Grimstad and Kristiansand including the design, construction, finance and operation of 38km of new motorway in southern Norway.
Objectives
The Project is expected to create benefits in user cost, time savings and accident reduction. The project will shorten the distance between Grimstad and Kristiansand by approximately 3 kilometres and reduce the travelling time from 40 minutes to 30 minutes and thus result in a quicker road connection for trunk traffic and better accessibility for local traffic in the area. At the same time, the development will provide a better residential environment along the existing road.
This Project is of common interest to the EU as it concerns the upgrade of one of the main connections between the south of Norway and the EU. E18 is an important infrastructure link for commodity producers, companies and markets that depend on an efficient transport route.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to 50% of senior debt
Environmental aspects
The Project road will mainly be constructed in uninhabited areas and will follow a route that is intended to avoid residential areas, protect adjoining natural environment and avoid conflict with cultural heritage. The road passes through a very hilly natural landscape with a significant wildlife presence. Following an EIA pursuant to the Norwegian Planning and Building Act, which fully incorporates the requirements of the relevant EU Directives, substantial mitigation measures have been adopted.
Procurement
The Project was advertised in the Official Journal of the European Communities in February 2005 (2005/S 33-031939). A pre-qualification process has been completed and three candidates have been pre-qualified and submitted bids.
Status
Signed - 23/06/2006
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).