The state-owned company for industrial growth, Siva, will invest NOK 250 million in Haugaland Business Park to accelerate the development of industrial areas in Gismarvik.
The investment is part of Siva 's strategy to contribute to the faster establishment of internationally attractive industrial locations in Norway. The company has already invested in Frier Vest in Grenland, and Haugaland Næringspark will apparently be the second industrial park investment, if given the green light by the owner municipalities.
– Among Norway's most internationally attractive industrial locations
Siva believes that the development of new and forward-looking industry occurs best where there are good opportunities for synergy with existing ones. Proximity to an international port, access to power and large, fully regulated areas are important competitive advantages.
– Access to large, prepared industrial areas is a bottleneck for the development of future industry. Haugaland Næringspark has all the prerequisites to become an internationally attractive industrial park. Our role is to contribute capital and expertise, so that the necessary plots of land and industrial infrastructure are prepared more quickly. In this way, we can, together with the owner municipalities and the industry itself, contribute to strengthening Haugalandet as a national industrial engine that ensures industrial value creation and production, says Director of Ownership and Property at Siva.
Increases Norway's attractiveness and competitiveness
General Manager of Haugaland Næringspark, Tiril Fjeld, is very pleased with Siva's interest in Norway's largest fully regulated industrial park.
– This is a matter of joy and a seal of quality for us! The fact that Siva wants to invest in Haugaland Næringspark sends a clear signal that our region can play a key role in the national focus on green industry and future value creation. This gives power to both existing initiatives and new industrial establishments with significance far beyond Haugalandet, says Fjeld.
Long-term and patient owner
Siva has committed to the investment, and is ready if the owners say yes. The company's involvement in Holding Haugaland Næringspark AS will trigger investments and mobilize private capital that would not otherwise have been invested.
– With Siva on the ownership side, we will be even better equipped to land the large industrial projects we are already in dialogue with. Increased capital injection will enable us to prepare the park faster. This is absolutely crucial, especially for the new industries, says Fjeld.
– By preparing the site and industrial infrastructure, we lower the threshold for establishment and further development of the industrial park, says Steinar Jørstad, Director of Ownership and Property at Siva.
Major regional ripple effects
Bernt Jæger, head of the Haugalandet Business Association, believes it will be of great importance to bring the state in as a co-owner of Haugaland Business Park.
– The fact that the state wants to become an owner clearly shows what enormous opportunities they see in Gismarvik – and what significance Haugaland Næringspark could have nationally. With the state on board, the park's position will be strengthened, and open up more new opportunities. The fact that Siva wants to invest 250,000 million kroner to prepare plots and additional infrastructure will also mean large and good contracts for the construction industry in Haugalandet in the short term. This is very good news, says Jæger.
Siva's investments are made on market terms. The share price is negotiated between the parties and reflects market value. Siva operates with a return requirement at the portfolio level, but Jørstad emphasizes that Siva is a long-term and patient owner.
– We plan to be a co-owner as long as Siva's commitment and capital provide added value for the business park, says Jørstad.
Two-step investment
Siva – the Norwegian Industrial Growth Company – is a state-owned enterprise that develops, owns and finances a national infrastructure for innovation and business development consisting of incubators, business parks, catapult centers, innovation companies, as well as innovation centers, industrial buildings and industrial parks.
Siva is investing MNOK 250 in two stages. The first investment is earmarked for the development of specific plots. The second investment is earmarked for industrial infrastructure for the utilization of resources between the industrial actors in the park. The second investment is triggered by commercial agreements on the plots.