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Building boom in Mo i Rana

FREYR Battery recently signed a framework agreement with the local housing developers Ranheim eiendom, Zar eiendom and Sparebank 1 Helgeland in Mo i Rana. The plans are extensive.

Mo i Rana, building boom, Giga Factory, Freyr Battery
One of the projects close to the city centre

The website Byggfakta gave a broad review yesterday about the offensive plans in Mo i Rana, and about how these are creating a construction boom. The online magazine refers to a significant transfer of employees is needed for battery production and that many of these will have to come from abroad. A ripple effect analysis carried out by Menon Economics in 2021 suggests a need for somewhere between 1,800 and 2,150 new housing units in Mo i Rana in the coming years.

According to Byggfakta, FREYR Battery has recently signed a framework agreement with the local housing developers Zar eiendom and Ranheim eiendom, and Sparebank 1 Helgeland. The unique thing about the agreement is that usually housing developers must pre-sell a certain number of apartments before the bank can grant a loan for the building project. Through the framework agreement, FREYR Battery provides a financial guarantee for the housing construction, and this enables faster housing development in the growing city.

The planned projects from the local housing developers initially amount to just under 180 housing units of many sizes, but as mentioned the need for housing will increase.

- It will be difficult for our recruits to participate in a pre-sale before they have arrived here. That's why we at FREYR Battery collaborate with the local property developers and the local bank by providing a financial guarantee, so that we can ensure that the homes are in place when the workers arrive, Helge Aasen, finance manager at FREYR Battery Operations, tells Byggfakta.


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