Veidekke ASA : PPP schools for NOK 950 million to Veidekke

Veidekke has won the PPP competitions to build and operate Rykkinn primary school and Jessheim upper secondary school. The combined project cost is NOK 950 million excluding VAT. "I am proud that Veidekke has won these two very demanding projects. These are two strategically important projects to us, as we view PPP as a market that will grow in the future," says CEO and President Arne Giske of Veidekke.

Both schools will be future-oriented school facilities and have lofty environmental ambitions in terms of both material use and energy use (passive house standard). Additionally, focus is on good areas for learning and a good indoor environment. The schools will be built as PPP projects (Public Private Partnership), and when completed, Veidekke will be responsible for leasing, operation and maintenance for 25 years. "PPP projects are both challenging and exciting. They require good planning, but in return they provide predictable operation for the owner and good solutions for pupils and teachers who will be using the school," says Birte Almeland, PPP manager for schools with Veidekke.

Rykkinn school
The project comprises a new primary school for 630 pupils from stages 1 to 7. The school will have a small sports hall and a comprehensive outdoor area well adapted to the existing terrain. The contract comprises demolition of the existing school, and the design and construction of a modern and future-oriented school. The school will be ready for the start of the school year in 2016. The contractual party for the PPP contract is Bærum municipality.

Jessheim upper secondary school
The new upper secondary school will be established on what currently is the parking lot of the existing school north of the centre of Jessheim. The new school will have six branches of study for a total of 1,500 pupils and 240 staff. The school will have four storeys with a gross area of 25,374 m2. In addition, a new pedestrian and cycle path and bus parking lot will be built, as well as an external sports facility and a park in connection with the school. The existing school will be demolished when the new school is completed in the autumn of 2017. Akershus county municipality is the contractual party for the PPP contract.

For more information please contact:
Head of department Birte Almeland, Veidekke Entreprenør AS tel. 47 95 07 70 31, birte.almeland@veidekke.no
Project manager Jessheim upper secondary school Geir Viken, tel. +47 91 83 04 70, gvi@veidekke.no
Project manager Rykkinn primary school, Gisle Jacobsen, +47 90 54 99 64, gisle.jacobsen@veidekke.no
Communications Manager Helge Dieset, Veidekke ASA tel. 90 55 33 22, helge.dieset@veidekke.no

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel. The company is characterized by involvement and local knowledge. Turnover is NOK 21 billion (2013), and half of the 6,300 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

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