Lemminkäinen and Destia to cooperate in the Hamina-Vaalimaa PPP project
LEMMINKÄINEN CORPORATION INVESTOR NEWS 28 APRIL 2014 AT 9:00 A.M.
LEMMINKÄINEN AND DESTIA TO COOPERATE IN THE HAMINA-VAALIMAA PPP PROJECT
Lemminkäinen and Destia have agreed on cooperation concerning the PPP project of the E18 Hamina-Vaalimaa road. The parties have agreed on forming a tendering consortium for the Finnish Transport Agency project involving the construction of a 32-kilometre motorway and Vaalimaa lorry park for 500 vehicles as well as their maintenance for the next 15-20 years.
The Finnish Transport Agency has a contract authorisation of EUR 660 million for the E18 Hamina-Vaalimaa project, which makes the project extremely large on the Finnish scale. Lemminkäinen and Destia consider the project too large for a single company in terms of financial and personnel resources.
"The parties to the consortium complement each other in terms of competence. Destia's strengths include in addition to large-scale infrastructure project management, design and maintenance of the completed project, while we have solid competence in demanding foundation and rock engineering as well as mineral aggregates and paving business. As experienced specialists, we both can offer solid project management in the project," says Executive Vice President Harri Kailasalo at Lemminkäinen.
"The E18 Hamina-Vaalimaa project combines the best resources of two experienced infrastructure experts. Both parties to the consortium also have experience and competence in arranging financing for similar PPP projects and contract structure," says Hannu Leinonen, President and CEO of Destia.
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Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 7,800 experts. In 2013, our net sales were about EUR 2.2 billion. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com