Brussels, 11/04/2003 (Agence Europe) - The European Investment Bank (EIB) is to support a road project in Norway to improve land transport links between Norway and Sweden. The loan of EUR 82 million concerns the E6 Oestfolt Road Project which is the main international highway connecting the two countries. The project involves the development of five sections of a tolled motorway replacing the existing two-lane highway Oslo and Göteborg and includes seventeen bridges and seven interchanges that will either be rebuilt or completely upgraded, as well as two tolling stations. The road's capacity will increase from approximately 15,000 vehicles per day to an estimated 50,000 vehicles per day. The improved road will enhance transport efficiency and safety conditions, and will also reduce travel times for local as well as for international transit traffic.
The final beneficiary and promoter of the project is the Norwegian Public Roads Administration, a government agency operating under the supervision of the Ministry of Transport and Communication. The project forms part of the Nordic Triangle, one of the fourteen TEN (Trans European Networks) priority projects. It will be jointly financed by the state and a contractor (OestfoldBompengeselskap AS) which will collect the toll revenues from the users. Oestfold Bompengeselskap is wholly owned by Oestfold's County Council.