The largest contract is for a new bus station on behalf of the property company Kärnfasgtigheter, which is owned by the municipality of Helsingborg. This is a total contract worth approximately SEK 60 million, which is based on a design made by Veidekke and the property company Skåne Värden AB. Veidekke was responsible for designing the project according to functional requirements and has the responsibility for planning and construction. Skåne Värden AB is leasing the station to Kärnfastigheter on a 25-year leasing contract. This is the first PPP (private public partnership) contract in the municipality of Helsingborg and is therefore a subject of great public interest. Total floor area of the buildings is 3,600 m2. Also included in the contract are various technical installations, and development of a land area of approximately 30,000 m2. The bus station facilities will have room for offices, a workshop, washing halls and a depot for 130 buses. The project will be completed in the course of June 2005.

Veidekke has also signed contracts with Hyreshem and Open House AB amounting to approximately SEK 17 million. Hyreshem and Open House, which are owned by OBOS, have developed a concept for module construction of dwellings. Activity within operations such as renovation, rebuilding, extensions and building service has also increased during the 2nd quarter. The contracts add up to approximately SEK 15 million, and they are scheduled for completion during the autumn of 2004.

Among the new heavy construction contracts are contracts for HSB Helsingborg, Trelleborg Harbour Authorities, the municipalities of Svedala and Eslöv as well as Örtofta Sockerbruk, Danisco. In the 2nd quarter, Veidekke was awarded heavy construction contracts worth approximately 50 million. These contracts are typical groundwork at a prices ranging from 5 to 10 million SEK. A contract for the harbour authorities of Trelleborg is somewhat special as it includes a major demolishing job. Most of the work will be completed by the end of 2004.

"We are now emphasizing recruitment and development of the organisation focusing on project development and cost-effective solutions in order to increase gradually our capacity, competence and competitive position," says Mr. Ole Arnfinn Opsahl.

For further information, please contact:

Ole Arnfinn Opshal, Managing Director, 

phone + 46 737559944

Dag Svensson, Head of building operations,

phone + 46 730613570

Jan Andersson, Head of heavy construction operations,

phone + 46 705215053