NIB finances 20 metro trains for City of Oslo

NIB has signed a loan with the City of Oslo to finance the acquisition of 20 new metro trains for the Fornebu Metro Line expansion. The Fornebu Metro Line is an extension of the existing metro network, from Majorstuen to Fornebu, and is being constructed in collaboration between the City of Oslo and Akershus County Municipality.

The NOK 3.2 billion (EUR 270 million) loan facility will cover Oslo’s full share of the metro trains procurement costs, accounting for approximately 11% of the total costs for the Fornebu Metro Line expansion project. The procurement is carried out by the municipally owned company Sporveien AS.

The new metro trains are scheduled for delivery between 2027 and 2029.

“We are proud to support Oslo’s expansion of sustainable public transportation. The new metro trains will enhance connectivity and align with our commitment to environmental responsibility by reducing emissions,” said André Küüsvek, NIB President and CEO.

The new metro line will connect Majorstuen in Oslo to Fornebu, significantly improving public transport access to the Fornebu area. Commuters will benefit from an estimated travel time of about 12 minutes between Majorstuen and Fornebu. Designed to carry up to 8,000 passengers per hour, the high-capacity metro line will alleviate pressure on the road network and reduce congestion.

Oslo aims to reduce its greenhouse gas emissions by 95% by 2030, integrating climate mitigation and adaptation into all decision-making processes. Transportation accounts for about half of these emissions.

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 S&P Global Ratings and Moody’s.

For further information, please contact
Carlos Rodriguez, Senior Banker, Public Sector & Utilities, +358 10 618 0471, Carlos.Rodriguez@nib.int

Arild Moen, Associate Director, Communications, +358 10 618 0496, arild.moen@nib.int