Lemminkäinen to renovate ring road and bridges near Moscow
LEMMINKÄINEN CORPORATION INVESTOR NEWS 1 APRIL 2014 AT 2:00 P.M.
LEMMINKÄINEN TO RENOVATE RING ROAD AND BRIDGES NEAR MOSCOW
Lemminkäinen has signed two contracts with the Road Committee of Central Russia for the renovation of a ring road and bridges. The sites are located near Moscow, and Lemminkäinen will act as the main contractor for both sites. The total value of the contracts is over EUR 16 million.
On the A108 road, Lemminkäinen will renovate a 24-kilometre section of the road. In addition to paving, the contract includes earthworks. A108 is a ring road located approximately 80 kilometres from the centre of Moscow and an important cross traffic artery for major highways leading out of the city. The renovation will begin in April 2014 and will be completed in September 2014. The value of the contract is approximately EUR 7 million.
On the M2 road, Lemminkäinen will renovate nine bridges. The bridges are located near Moscow along a 12-kilometre section of the road. The busy M2 road is one of Russia's major highways, running south from Moscow. The renovation of bridges will begin in May 2014 and will be completed in September 2014. The value of the contract is approximately EUR 9 million.
"These contracts support our strategy of seeking growth in Russia. Our target is to grow not only our residential development and construction but also our infrastructure construction services in the Russian market," says Maaret Heiskari, Executive Vice President at Lemminkäinen.
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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