Siva – The company for industrial growth becomes a co-owner of Frier Vest. By Siva converting NOK 100 million from loans to shares in Frier Vest Holding AS, the state has now become one of the owners.
– State ownership of Frier Vest leads to increased stability, long-term development, and even better opportunities for innovation and sustainability. With this, we can safely say that a big and important step is being taken in the development of the industrial area, says Roy Vardheim, chairman of Frier Vest Holding AS.
Previously, Siva contributed to the development of Frier Vest through a loan of NOK 100 million. This loan was granted to ensure progress in the work to prepare the site for Vianode in Frier Vest. Part of the agreement with the loan was that Siva had the right to convert the loan into shares in Frier Vest Holding AS.
The general meeting of Frier Vest Holding AS adopted a capital increase in July, which means that Siva converts NOK 100 million from loans to shares in the company.
The state's contribution through Siva has been decisive for the project's progress, and a stable and resourceful owner like Siva will make Frier Vest even more attractive.
– With Siva on the ownership side, the future looks even brighter for the further development of the industrial area in Frier Vest. With their network and expertise, Siva will be a door opener for new investors and partners, says Vardheim.
State ownership gives the business park a strong financial backing. Siva has a long-term perspective on its investments, and patience in investments allows for thorough planning, sustainable solutions and quality in the implementation of the projects.
– Siva has become involved in Frier Vest to ensure faster development of the area into an internationally attractive industrial park. Frier Vest is one of the most internationally attractive industrial parks under development in Norway, says Steinar Jørstad, Siva's director of ownership and property.
Grenland is an industrial region rich in tradition, and Siva's involvement in the area goes back to 1994, then on Herøya.
– Siva contributes to the development of well-organised, competent and efficient industrial park companies, co-location of green circular value chains, development of joint infrastructure and industrial service provision, says Jørstad, and continues:
– By investing in new industrial buildings and industrial parks, we ensure that Norway establishes green industrial parks faster, more predictably and at the lowest possible cost. We do this in close cooperation with industry, municipalities, the other policy apparatus and other public and private capital.
