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Nordic Investment Bank finances improved wastewater treatment for Oslo, Norway

About the entity

Nordic Investment Bank (NIB)
We are the international financial institution of the Nordic and Baltic countries. We work towards a prosperous and sustainable Nordic-Baltic region.
Schneider Electric
Idrica
  • Nordic Investment Bank finances improved wastewater treatment for Oslo, Norway
  • NIB and the Norwegian wastewater treatment company Vestfjorden Avløpsselskap (VEAS) have signed a 15-year loan agreement to finance capacity improvements at Norway’s largest wastewater treatment plant south of Olso.

The NOK 685.5 million (EUR 70 million) loan will co-finance the company’s investment programme to replace outdated infrastructure at the VEAS wastewater treatment plant.

Inlet tunnels, process halls, de-nitrification processes, and sludge treatment will be refurbished to improve the nitrogen removal, enhance the sludge management, and increase the biogas production.

After the project is completed in 2021, VEAS will be able to continue to treat wastewater treatment for another 15 to 25 years. The project will also enable the production of biogas that can be used as vehicle fuel.

The refurbishment of the facility will increase the plant’s capacity and accommodate the wastewater treatment needs of the growing population in the region. The investment will contribute to an increased security of operations, improve the quality of public services and support urban development.

VEAS is a wastewater treatment company owned by the municipalities of Asker (8%), Bærum (21.5%) and Oslo (70.5%). The VEAS plant is the largest in Norway and one of the largest in the region, treating the wastewater of approximately 700,000 inhabitants.