Stockholm Arlanda Airport development financed by KfW IPEX-Bank
KfW IPEX-Bank and Swedavia have signed a €190 million loan agreement for the overall financing and development of the Swedish state owned company’s airports, mainly its largest airport Stockholm Arlanda Airport.
Swedavia is investing approximately €1.7 billion by 2025 in the development of Stockholm Arlanda Airport. Sizeable investments are planned to develop terminal facilities as well as the service offering at the Swedish capital main airport, where the operator also aims to have zero emissions of carbon dioxide from the airports own operations by 2020.
“We are pleased that KfW IPEX-Bank is supporting us with funding for our continued work to build the climate-smart airports of the future. With this credit facility, we diversify our funding and get cost-effective loans with longer durations,” says Mats Påhlson, Chief Financial Officer at Swedavia.
Swedavia is carrying out wide-ranging climate transformation measures at all ten state-owned airports, including the use of green electricity and biofuel to replace oil heating of airport buildings, as well as several other energy-efficiency measures.
As part of the current development programme at Stockholm Arlanda Airport, a new pier and system for baggage handling, check-in and security screening are planned. The commercial offering at the airport will also be developed with a new commercial center with a variety of shops and restaurants.
At Stockholm Arlanda Airport the capacity is expected to gradually increase from 26.9 million annual passengers (2018) to 40 million passengers by 2040, positioning Stockholm Arlanda Airport as the leading climate smart airport in the Nordics.
“Stockholm Arlanda Airport is already a mainstay of the Swedish economy. Through our financing, we are pleased to be playing a role in preserving and shaping local jobs by maintaining the competitiveness of Stockholm Arlanda Airport, while at the same time helping it to pursue its climate goals,” said Andreas Ufer, Member of the Management Board of KfW IPEX-Bank responsible for the infrastructure sector.
Having also financed modernisation measures at Helsinki Airport, this is now the second airport financing in a short space of time for KfW IPEX-Bank – a decision that both cements and highlights its position as an infrastructure financier for northern Europe.
Swedavia is a State-owned group that owns, operates and develops ten airports across Sweden. Our role is to create the access Sweden needs to facilitate travel, business and meetings – in Sweden, in Europe and around the world. Safe, satisfied passengers are the foundation of our business. Swedavia is a world leader in developing airports with the least possible environmental impact. The Group has revenue of over 5.7 billion Swedish kronor and some 3,100 employees.
Within KfW Group, KfW IPEX-Bank is responsible for international project and export finance. It offers medium and long-term financing to support key export industries, to develop economic and social infrastructure, to fund environmental and climate protection projects and to secure the supply of raw materials. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.