Infranode invests in Yilport Oslo to support the green transition in the largest container port in Norway
Nordic infrastructure company Infranode invests in Yilport Oslo, the operator of Norway’s largest container port. Through the agreement, Infranode proves its strategy of making long-term and responsible investments in Nordic infrastructure. Yilport Oslo plays an important role in Oslo Port’s ambition to become the first fossil-free port in the world.
“With this investment we are making our 4th investment in Norway and our first within the transport sector. It showcases Infranodes ability to execute complex investments in essential Norwegian infrastructure assets and complements our portfolio of energy- and social infrastructure investments”, says Erik Botnevik, Country Lead Norway at Infranode.
Through the agreement, Infranode acquires a co-ownership stake from the owner Yilport Holding. The container port is Norway’s largest, serving 80 percent of the Oslo region and over half of the total population in the country. Yilport Oslo currently holds a concession of operating the port until 2035 with a possibility to prolong for another 10 years.
“We are very pleased to extend our partnership with Yilport and complete our second container port investment, alongside the investment we have made in the municipality of Gävle, Sweden. It perfectly aligns with our strategy to make responsible investments in Nordic infrastructure to the benefit of our investors and simultaneously take an active part of the transformation to a more sustainable port industry”, says Joel Löfroth, Investment Manager at Infranode.
The port is already today a frontrunner in the transition to increased sustainability. A substantial part of the operations is electrified, and the aim is to support the transformation to make the port the first fossil free port in the world. The port has seen a substantial increase in volumes since 2015 and now handles 250 000 TEU (one TEU, Twenty-foot equivalent unit, is equal to a container of 20 feet, or around 6 meters).
“In the last 10 years Yilport has become the fastest growing non-liner port operator with its 22 ports in 10 countries.
The collaboration among Infranode and Yilport was initiated in 2019, when Yilport Gavle (Sweden) realized its capacity enlargement with an equity contribution by Infranode. This collaboration created a long-term partnership, showcasing the confidence and harmony between the parties. Now, I am delighted to announce that our collaboration with Infranode has been taken to the next level with the investment by Infranode in Yilport Oslo.
Yilport Oslo stands out with its modern infrastructure and equipment, its high productivity and quality services. With Yilport’s operational excellence and know-how, Yilport Oslo continues to lead the way with streamlined digitalized and automated processes. Moreover Yilport Oslo, being dedicated to reducing climate emissions, is on the track of become an exemplary green port as a strong indicator of Yilport’s global sustainability vision.
This agreement will not only improve the social and economic transition within the region, but also will open new doors to other investment opportunities, where Yilport and Infranode can extend their partnership”, says Evren Öztürk, Board Member and CFO at YILDIRIM Group of Companies.
Financial details are not disclosed.
Joel Löfroth
Investment Manager, Infranode
Joel.lofroth@infranode.se
+46 72 540 7175
Erik Botnevik
Country Lead Norway, Infranode
Erik.Botnevik@infranode.se
+47 91 55 50 58
Aslı Cagla YILDIRIM
Investor Relations Manager, YILDIRIM, YILPORT
asli.yildirim@yildirimgroup.com
+90 212 290 30 80 - 5218
Infranode
Infranode is a long-term infrastructure investor with a specific focus on the Nordic countries. Infranode covers the main infrastructure sectors of energy & utilities, renewables, digital infrastructure, transportation, and social infrastructure. Infranode has offices in Stockholm, Helsinki and Oslo and a strong team of infrastructure investment professionals with extensive local and international experience.
Infranode currently has c. EUR 1.5 billion of capital under management from long term institutional investors including some of the most renowned Nordic pension funds. Investors in the Infranode funds include e.g. Folksam, the Swedish Municipalities Pension fund KPA Pension, KEVA, the Swedish State Pension fund Ap4 and the European Investment Bank.
Yilport Holding
Yilport Oslo is a subsidiary of Yilport Holding that is one of the fastest growing international container terminal operators in the world. Headquartered in Istanbul, Turkey, Yilport Holding is active in nine countries operating close to 30 sea and dry terminals. Yilport Holding is currently the 12th among the top global container terminal operators, ranked by Drewry. The parent company YILDIRIM Holding also owns 24% shares of CMA CGM Group, the third largest container shipping company in the world.
