NYAB signs a significant agreement to start constructing Aurora Line (inside information)
NYAB Plc
COMPANY ANNOUNCEMENT
30 October 2023 at 10:55
NYAB signs a significant agreement to start constructing Aurora Line (inside information)
NYAB and Svenska kraftnät have signed a significant agreement regarding the construction of Aurora Line. The agreement is a collaborative agreement. Based on the target price agreed between the parties and other budgeted expenses, the total value of the project is estimated to be approximately EUR 89 million. Work under the agreement will be started without delay and completed in December 2025.
Aurora Line is a new 380 km long 400 kV transmission line between Sweden and Finland that is built together by the main grid companies Svenska kraftnät and Fingrid. It will improve the security of supply, equalize electricity prices between Finland and the rest of the Nordic countries by increasing transmission capacity, and enable an increase in renewable energy production in the Baltic Sea region.
The agreement regards the second phase of the project for the approximately 90 km transmission connection between Dockasberg and Risudden in Sweden. NYAB started preparing for the construction with Svenska kraftnät in December 2022. Previous agreements between the parties have regarded work of a preparatory nature, including purchases that are critical for the construction phase.
NYAB is able to offer its entire expertise in the energy sector, from engineering to energy construction and on to land construction services, for the project.
“Aurora Line is a crucial project for the green industrial transition in the Nordics and ensures an important part of the future Nordic electricity supply as well as the common European market. We are proud to continue the successful cooperation with Svenska kraftnät by applying our extensive competence in infrastructure and energy construction for this project. The project further promotes the realization of large-scale industrial investments that entail significant demand for our services in the coming years.”, says Magnus Granljung, Senior Vice President, Sweden at NYAB.
Contacts
- Investor Relations, NYAB Oyj, ir@nyabgroup.com
- Magnus Granljung, Senior Vice President, Sweden, NYAB Oyj, +46 70 293 90 95, magnus.granljung@nyabab.se
About NYAB Oyj
NYAB is a builder of a clean future with decades of experience in complex and demanding projects. We are enabling green transition in the Nordics by providing engineering, construction, and maintenance services to public and private sector clients regarding renewable energy and sustainable infrastructure. NYAB is headquartered in Oulu and it has more than 400 employees at different locations in Finland and Sweden.
NYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.