Financing to Enable Largest Slaughter Facility in Norway

The Nordic Investment Bank announced it signed a loan with Norwegian meat and egg supplier, Nortura SA, for NOK 315 million (US$58 million) to finance construction of what will become Norway's largest slaughterhouse.

The facility, to be constructed in central Norway, will slaughter cattle and sheep.

The new slaughterhouse will replace four of Nortura's old slaughterhouses, as well as a meat processing plant. In addition, three slaughterhouses owned by the meat company Spis Grilstad will be replaced due to a cooperation agreement between Nortura and Spis Grilstad.

Nortura expects to more than cut in half energy consumption by replacing the older slaughterhouses with a new modern facility. The new slaughterhouse, which was finalized in August 2010, will also significantly reduce water usage.

Nortura SA is organized as a cooperative owned by approximately 17,800 farmers and has industrial operations in 34 municipalities, with approximately 5,800 employees.

Reprinted in part from meatingplace.org