On May 30, 2018, the Skanska consortium and Statens vegvesen have reached financial close on the Rv3 / Rv25 Ommansvollen – Grundset/Basthjørnet Road PPP Project in Norway. Construction work is now underway and the new road is due to open to traffic late in 2020.
The project consists of a 26-kilometre long greenfield upgrade to the existing Rv3 and Rv25 roads, which follows a new alignment located close to the existing highway corridor. The site is approximately 150 km north of Oslo and provides a new route bypassing the built-up areas of Elverum and Løten. The total value of the PPP Contract is approximately NOK 5.5 billion of which approximately NOK 2.6 billion relates to the construction contract. Skanska Infrastructure Development and Skanska Norway’s Pension Fund are con-investors and each will hold 50% of the shares in the PPP Company.
Operis was pleased to act as the financial advisor to Skanska on the project.