"Ene og Alene" in Tromsø

A joint venture between Veidekke and Nord-Tre (50/50) has just started the construction of dwellings especially designed for young people, on behalf of Tromsø Bygg AS (owned 2/3 by Veidekke's Property Division). The project includes the erection of 86 flats in five buildings, the tallest of which will be four storeys high. There will be a parking area in one of the basements.  The houses will be built in the traditional way, with prefabricated concrete structures and exterior wood cladding. The construction is scheduled for completion in June 2005. All of the flats have already been sold. Veidekke's share of the turn-key project is NOK 28 million excluding VAT, while total turnover for Tromsø Bygg is NOK 95 million.

AMFI Finnsnes

Veidekke is about to start the construction of a new shopping centre at Finnsnes in a joint venture with Barlindhaug Utbygging. Veidekke has a 60 per cent share of this contract. The developer is Veidekke Eiendom (property) and Barlindhaug Eiendom (property) in a 50/50 partnership. The shopping centre has been sold to Amfi Eiendom ASA, which will take possession of the building on completion. The sales price was NOK 154 million, which includes costs related to the first building stage. The building will have two floors with total floor space of 13,000 m2. Another Veidekke subsidiary, Block Berge Bygg, is an important partner in the project, as it will supply the prefabricated concrete structures. The construction is scheduled for completion in October 2005. Veidekke's share of the turnkey contracts is NOK 86 million excluding VAT.

Operation and maintenance at Hamarøy

Veidekke's Fauske department has signed a letter of intent for a contract for operation and maintenance of the roads on Hamarøy between Fauske and Narvik, in all 470 km. The contracts includes tasks such as cleaning the toilet facilities by the road, gravelling/grading the roads and winter maintenance. Veidekke will also provide a 24-hour stand-by service. The contract will be effective from the autumn of 2004 for a period of four years. The contract price is NOK 53 million excluding VAT.

Mårnes Quartzite Quarry

Veidekke's department in Fauske has also signed a new contract with Elkem for extraction of quartzite at Mårnes outside Bodø. This department has enjoyed a long (and good) cooperation with Elkem, and is now about to conclude a similar contract, which has lasted for six years. The new contract has already started. The main tasks are blasting, crushing and shipment of quartz by boat. The contract has a total value of NOK 40 million, excluding VAT. The contract is valid till 1 January 2006 with an option of a further two years.

For more information, please contact  Director Jon Sørby, Veidekke Entreprenør AS,

mobile phone + 47 901 34 254.