Lemminkäinen consortium chosen as alliance partner of Finnish Transport Agency and the City of Tampere, for the construction planning and execution of the VT12 Tampere tunnel project
LEMMINKÄINEN CORPORATION STOCK EXCHANGE BULLETIN 14 JUNE 2012 AT 5 PM
LEMMINKÄINEN CONSORTIUM CHOSEN AS ALLIANCE PARTNER OF FINNISH TRANSPORT AGENCY AND THE CITY OF TAMPERE, FOR THE CONSTRUCTION PLANNING AND EXECUTION OF THE VT12 TAMPERE TUNNEL PROJECT
A consortium formed by Lemminkäinen, A-Insinöörit Suunnittelu Oy and Saanio & Riekkola Oy has been chosen as an alliance partner in a project for the City of Tampere and the Finnish Transport Agency. The project involves the design and construction of the VT12 Tampere tunnel and will be divided into development and implementation phases. An alliance contract for the first phase will be signed in July. During this phase, which will last around a year, an implementation plan and target costs will be drawn up for the project's execution.
The City of Tampere, under whose ownership the forthcoming routes will fall, will be the project customer. During the project, the Finnish Transport Agency will act as the customer's representative. An order authorisation of EUR 185 million has been granted for the contract.
The contract will be executed under the new alliance model. Such a model is based on a joint agreement between the parties on the target costs and other key objectives, based on joint risk provision.
The aim is to begin work on the second phase, implementation, in autumn 2013, based on a separate alliance contract.
"This project bears testimony to the strong expertise and cost-efficiency of our consortium with respect to challenging infra projects. Our consortium has strong specialist expertise in both the planning and execution of tunnel and road construction," says Harri Kailasalo, Executive Vice President for Infrastructure Construction at Lemminkäinen.
Executive Vice President, Infrastructure Construction,
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Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction, technical building services and international operations. Net sales in 2011 were about EUR 2.3 billion, of which international operations accounted for roughly one third. The Group employs an average of 8,400 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com