The E10 Road PPP was the third of the Norwegian Road PPP programme. It included the design and construction of the E10/rv. 85 road project in northern Norway procured by the Norwegian Public Roads Administration (NPRA), worth NOK 11.4 billion (€970 million equivalent), and the contract for operations and maintenance services of the completed road for a term of 15 years’ worth NOK 1.0 billion (€85 million equivalent).
The E10/rv. 85 Tjeldsund – Gullesfjordbotn – Langvassbukt is part of the transport link between Lofoten, Vesterålen Harstad/ Narvik Airport and the E6. It includes the construction and operation of about 82 kilometers of new road with seven new tunnels and 22 bridges. In addition to improving road safety, the project will shorten the trip distance and reduce the travel time. This project further constitutes a pilot project for NPRA to test measures for greener and more environmentally friendly development.
Benefits to the client
Skanska is the winning construction and maintenance contractor and SPV shareholder.
Newbridge role
Newbridge as financial advisor advised Skanska on their successful bid for the E10 PPP. Structuring the financing, assisting negotiating with banks and institutional investors, including local Norwegian institutions new to the PPP market, and modelling the resultant project financing. This also included working with Skanska on ESG aspects of the financing.
