The Nordic Investment Bank (NIB) and the Finnish airport operator Finavia Corp. have signed a EUR 150 million loan agreement with a 20-year maturity for the extension and modernisation of Helsinki Airport.
The loan will finance the expansion of the international terminal at Helsinki Airport by 75,000 square metres, as well as the enlargement of airside facilities in order to add new aircraft stands, a new taxiway and eight new passenger bridges for wide body aircrafts to accommodate the continuously increasing passenger turnover.
Construction work began in 2015, and will be completed by 2020. The enlargement of both land and airside facilities is expected to increase the capacity of the airport to 20 million passengers.
It is projected that the number of landing and take-off cycles will double by 2025.
“The investment will improve service quality for passengers and reduce operating costs of the airport. We hope this will strengthen the competitive position of Helsinki Airport as a popular transfer point for air traffic between Europe and Asia as well as a North European leader for long-haul flights”, says Henrik Normann, NIB President & CEO.
Finavia Corp. is operates a network of 24 airports and provides Finland’s air navigation services. Finavia currently serves totally over 19 million passengers annually.
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 Standard & Poor’s and Moody’s.