Íslandsbanki, together with Birta Pension Fund, Lífeyrissjóður verzlunarmanna (LV), and LSR (The Pension Fund for State Employees), has signed an agreement with ÞG Verk for construction financing of the new Ölfusá Bridge.
The project’s total estimated cost is ISK 17.9 billion, with completion targeted for autumn 2028. Traffic is expected to begin using the bridge in autumn 2028, and average daily traffic is projected at around 10,000 vehicles once in operation.
The new Ölfusá Bridge is a key investment on one of the busiest sections of the Ring Road and will relieve pressure on the existing bridge, which was built 80 years ago and is poorly suited to today’s heavy traffic.
Íslandsbanki states it is proud to lead the financing of one of South Iceland’s largest infrastructure projects; the bridge will be a major improvement for the region and Icelandic society as a whole.
The bank has consistently highlighted the investment needs in national infrastructure and emphasized the importance of public–private partnerships in financing such projects. Íslandsbanki aims to help ensure that urgent projects—such as the new Ölfusá Bridge—move forward.
The project is both extensive and demanding, and Íslandsbanki is pleased to support its long-standing client ÞG Verk in such a significant undertaking.
Source: Íslandsbanki
