Lemminkäinen wins major infrastructure construction contract in Norway
LEMMINKÄINEN OYJ PRESS RELEASE 29.6.2011 AT 4.30 PM
LEMMINKÄINEN WINS MAJOR INFRASTRUCTURE CONSTRUCTION CONTRACT IN NORWAY
Lemminkäinen has won a hydropower contract in Norway to build a 5.5 kilometers long water transfer tunnel and seven water intake structures for Sunnhordland Kraftlag's (SKL) Eikemo hydropower plant. The project is located in Kvinnherad, between Haugesund and Bergen in western Norway, 700 metres above the sea level. Concession from the Ministry of Petroleum and Energy was a precondition for the contract. This concession was granted by the King in Council on 24 June 2011. The value of the contract won by Lemminkäinen is approximately 19 million euros (150 million NOK).
Work in the project will begin in the summer of 2011, and its estimated duration is about two years. The project will boost the production of the existing hydropower plants by approximately 63 GWh/year.
Lemminkäinen has strong experience of hydropower construction in Norway. In the spring of 2011, Lemminkäinen delivered two extensive hydropower projects, worth a total of approximately 30 million euros (250 million NOK). The Eikemo project will reinforce Lemminkäinen's position in the field of demanding infrastructure construction in Norway. Nordic infrastructure construction market is one of Lemminkäinen’s strategic growth areas.
Managing Director Hans Olav Storkås
Lemminkäinen Anlegg AS
Tel. +47 67 91 48 00 / +47 901 22 744
NASDAQ OMX Helsinki Ltd
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 about 8,300 people. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.fi