€70m NIB loan finances improved wastewater treatment for Oslo
The Nordic Investment Bank 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The NOK685.5 million (€70 million) loan will co-finance the company’s investment programme to replace outdated infrastructure at the VEAS wastewater treatment plant.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.
