Lemminkäinen: Strong order book in the Baltic countries' reviving infrastructure market
LEMMINKÄINEN CORPORATION PRESS RELEASE 27 SEPTEMBER 2011 AT 3 P.M.
LEMMINKÄINEN: STRONG ORDER BOOK IN THE BALTIC COUNTRIES' REVIVING INFRASTRUCTURE MARKET
During the summer and early autumn, Lemminkäinen has won major infrastructure construction contracts in Estonia, Latvia and Lithuania. The total value of the new contracts is EUR 48 million.
Lemminkäinen will renovate approximately six kilometres of the E67 road leading from Tallinn to the Latvian border, at the Pärnu bypass. The Finnish builder is the leading member of the consortium formed for the project. In addition to renovating the main road, Lemminkäinen will construct bicycle lanes and walkways, noise barriers, subways and new road intersections. In addition, it will build a bridge spanning over 70 metres across the river Sauga.
Moreover, Lemminkäinen is a partner in the consortium building a new container terminal at the port of Muuga. Its responsibilities include contributing to the planning and foundation works of the 27-hectare terminal area, construction of the railway into the area, and the paving of the terminal field. The terminal was commissioned by Russian transport and forwarding agency Rail Garant.
In Latvia, Lemminkäinen has won a number of significant road and street construction contracts from the Latvian road administration. A 26-kilometre stretch of the Riga ring road will be renovated. The related contracts include milling, stabilisation and paving of the road, and renovation of one bridge. The Riga ring road projects will be implemented in cooperation with Lemminkäinen's infrastructure construction units in the Baltic countries. A seven-kilometre stretch of the P-45 road will be renovated between Vilaka and Karsava. Under the road administration contracts, a total of 135,000 tonnes of asphalt will be laid.
In addition, Lemminkäinen will renovate streets in Latvia's city of Jekabpils. This project involves earthworks, the paving of walkways and 12,000 tonnes of asphalt paving.
In Lithuania, Lemminkäinen will renovate a 2.5-kilometre stretch of Vilnius' southern bypass. In addition to renovating and widening the main route, the project involves the construction of piping, sewers and power and gas lines. The contract also covers construction of an 85-metre bridge. This project, commissioned by the Lithuanian road administration, includes 16,000 tonnes of asphalt paving.
The infrastructure construction works in Estonia, Latvia and Lithuania started during the summer and early autumn, and will be completed by October 2012.
Jarmo Rautanen, Country Director
Lemminkäinen Infra Oy
Tel. +358 400 633451
Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction and Technical Building Services. Net sales in 2010 were around EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs an average of 8,000 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com