Castellum, Port of Gothenburg form JV for new Nordic logistics hub

Castellum, Port of Gothenburg form JV for new Nordic logistics hub

Castellum has signed a letter of intent with the Port of Gothenburg to jointly develop logistics properties in the Halvorsäng region.

The collaboration will be conducted in a partner company where Castellum and the port own equal parts. Castellum invests approximately SEK 1 billion in the project.

”Castellum was chosen as the port’s partner in a selection process where both finance and sustainability were important factors. The purpose of the partner company is to jointly develop, design and build logistics properties within Halvorsäng and to subsequently own, manage and rent out the premises. A letter of intent has been signed by the parties,” said the company in a statement.

”This is a collaboration that will benefit Gothenburg’s competitiveness and create new jobs in the region. We are proud to have been selected and hope for a positive decision in the City Council,” said Henrik Saxborn, CEO of Castellum.

Halvorsäng is located directly north of Skarvikshamnen in an ideal location for handling incoming goods unloaded by the Port of Gothenburg, for further transport across Scandinavia by truck or train. The area amounts to approximately 270,000 sq.m. of land area, of which approximately 155,000 sq.m. is gross area.

The site is to be fully developed within 4 years, with an estimated project start in 2021. Castellum’s initial investment for 50% of the land value is estimated to approximately SEK 400-450 million. In addition, Castellum estimates an investment of approximately SEK 550 million.

The municipal board in Gothenburg approved the port’s request last week, and the matter will be considered by the city council in September.

”It is still early in the process but our absolute intention is to contribute to a successful development. With its close proximity to the port and the major traffic routes, Halvorsäng has all the qualifications of a great place for sustainable logistics of the future,” said Mariette Hilmersson, CEO of Castellum Region West.