Nordic Investment Bank (NIB) has agreed to provide NOK685.5m (€70m) loan to Vestfjorden Avløpsselskap (VEAS), a Norwegian wastewater treatment company, to finance capacity improvements at southern wastewater treatment plant in Oslo, Norway.
NIB stated that this loan amount will be used by VEAS in replacing the outdated infrastructure at the wastewater treatment plant. The replacement will include inlet tunnels, process halls, de-nitrification processes, and refurbishment of sludge treatment to enhance nitrogen removal, sludge management and increased production of biogas.
The project, which will be completed in 2021, will enable VEAS to continue wastewater treatment for another 15 to 25 years. Biogas produced from this plant is also expected to be used as vehicle fuel.
NIB, in a statement, said: “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.”
Vestfjorden Avløpsselskap (VEAS) is a wastewater treatment company owned by the municipalities of Asker with 8% stake, Bærum with 21.5% and Oslo with 70.5%. Its wastewater plant is considered to be the largest in the country with a wastewater treatment capacity for 700,000 inhabitants.
In November 2018, NIB offered financial assistance for the Swedish municipality of Tanum. The bank agreed to provide SEK150m (€14.65m) to finance investments in water supply and wastewater treatment. The municipality is located on the west coast of the country, with a population of about 12,700.
NIB offered the loan to co-finance projects in Tanum to install a wastewater pipe from Fjällbacka to the more efficient wastewater treatment plant in Bodalen.
And in June, the bank agreed to provide €15m to Turun seudun puhdistamo (TSP) to modernize wastewater treatment plant (WWTP) in Turku, Finland.
The project was aimed at separating the wastewater and storm water discharge systems, enabling the WWTP to utilize its full wastewater treatment capacity during extreme weather conditions.