LEMMINKÄINEN CORPORATION PRESS RELEASE 6.9.2007
Oka Oy of Lemminkäinen Group has acquired a plot of land in St. Petersburg for
the purpose of building approx. 530 housing units.
The plot of land is located in the Obuhovo district, about eight kilometres
southeast of the city centre. A 17-storey apartment building with a total floor
area of 36,600 m2 will be built on the site. The project also includes the
construction of a 110-place parking facility in connection with the apartment
building. The total value of the project is approx. EUR 50 million.
A building permit has been obtained and work will start on the site during the
autumn in partnership with Lemcon Ltd, also of Lemminkäinen Group. The
construction time for the apartment building is two years.
- The location of the site is good. It is within a short distance of the River
Neva and right next to a metro station. There are also other services, such
schools and day care centres, in the neighbourhood, says the Managing Director
of Oy Alfred A. Palmberg Ab, Mr. Risto Bono.
Oka Oy is currently involved in the construction of two other apartment
buildings in St. Petersburg. The company's share of these other projects in 123
Managing Director Risto Bono
Oy Alfred A. Palmberg Ab
Tel. +358 400 100 505
Oka Oy is a building contractor belonging to the Palmberg Group, which itself is
part of Lemminkäinen Group. The company's new building and refurbishment
contracting includes competitive tender contracting as well as commercial and
Lemminkäinen Group operates in all areas of the construction sector. Its main
business areas are building contracting, infrastructure construction, the
building materials industry and technical building services. Net sales in 2006
were EUR 1.8 billion, of which international operations accounted for about a
third. The Group employs some 8.700 people. Lemminkäinen's share is listed on
Helsinki Stock Exchange.