NRC Group ASA – Crown Bridges tramway approval

The Helsinki City Council approved the construction phase of the Crown Bridges tramway and the cost estimate for the project. The revised cost estimate is around EUR 326 million, with NRC Group Finland’s (“NRC Group”) share amounting to approximately EUR 100-110 million.

The contract includes construction of the tramway and other street construction projects to develop the city. This includes the construction of a new Hakaniemi bridge to replace a dilapidated bridge and the construction of new Hakaniemi streets.

According to the preliminary project schedule, track construction is planned to commence during autumn 2021 and the project is scheduled for completion in 2026.

The formal contractual signing of the contract is expected to take place in October 2021.

The Crown Bridges project will connect the Laajasalo, Korkeasaari and Kalasatama areas to the centre of the city. The primary objective of the Crown Bridges project is to provide an effective, safe and sustainable transport connection from Laajasalo area to the centre of the city.

The Crown Bridges tramline will be executed as an alliance project. This implies that the client, the city of Helsinki and Helsinki City Transport HKL, form one organisation together with the contractors NRC Group and YIT, and the consulting companies Ramboll Finland Oy, Sitowise Oyj and Sweco Infra and Rail Oy. NRC Group and YIT will construct the infrastructure together, sharing both the risks and the benefits related to the project execution.

NRC Group has been involved in six rail transport related alliance projects in Finland, including Jokeri Light Rail project, which is the largest ongoing tramway alliance project In Finland, and Tampere tramway, where public traffic officially opened in August 2021.

“We are very pleased to announce that the City of Helsinki has approved the construction of the Crown Bridges tramway. We are committed to deliver a sustainable transport connection to the city center. With the execution of the Crown Bridge, we can continue to develop our organization and our capabilities in this important market segment”, says Henning Olsen, CEO of NRC Group.

For further information, please contact:

-              Henning Olsen, Chief Executive Officer, NRC Group ASA on tel: +47 91 74 15 92.

-              Harri Lukkarinen, Managing Director, NRC Finland on tel: + 35 840 86 61 714.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act