Financial closure achieved for USD2.22 billion road network PPP project in Norway

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Financial closure achieved for USD2.22 billion road network PPP project in Norway

Webuild, part of Sotra Link AS, has announced the financial closure of the Sotra Connection PPP Project. The project includes financing, design, construction and multi-year maintenance of a network of roads, tunnels and bridges in western Norway

The network to be built will include more than 9 km of highway and a suspension bridge of 30 m in width and 900 m long including access ramps, and towers 144 meters high. There will also be a total of 12.5 km of primary and secondary tunnels, as well as road and pedestrian underpasses, tunnel portals, smaller bridges and viaducts, and pedestrian and bicycle paths.

The design and construction of the project will be done by an international consortium of builders including Webuild with a 35% stake, FCC Construcción with 35%, and SK ecoplant with 30%. The entire contract is being led by Sotra Link AS, with Webuild holding a 10% stake, Macquarie Capital with 70% and SK ecoplant at 20%. Sotra Link AS will be responsible for the operation and maintenance of the network for 25 years after it opens to traffic in 2027.

The combined total value of the contract is NOK19.8 billion (US$2.22 billion). The project intends to improve mobility between Bergen and the island of Sotra on the west coast. 


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