Veidekke ASA: To build for Hydro at Karmøy

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Hydro has awarded Veidekke Entreprenør a contract to build a new electrolysis hall, new rectifier building, new anode service building and various other works for Hydro's new plant at Karmøy close to Haugesund. This is a pilot project for more climate- and energy-effective production of aluminium, and Veidekke has entered into two contracts with a combined value of around NOK 475 million excluding VAT.

Hydro's goal with the pilot project is to industrialize the world's most climate- and energy-effective technology for aluminium electrolysis. The aim is to reduce energy consumption by around 15 per cent per kilo of aluminium produced in relation to the world average, and with the world's lowest CO2 emissions.

"The project is an important step towards climate-friendly energy-processing industrial production. Veidekke Entreprenør is very pleased to contribute to these developments, and we're very proud to have been selected as contractor. Now we're looking forward to good cooperation and look forward to getting started with the work," says district manager Ove Nedrebø of Veidekke in Haugesund.

Among other things, Veidekke will build infrastructure and erect an electrolysis hall, a rectifier building and a transformer building. An area of 20,000 m2 is to be developed. Approx 28,000 m3 of concrete, 2,700 tons of reinforcement and 3,500 tons of construction steel will be used. For Veidekke the project will employ around 150 man years throughout the construction period, mostly from Veidekke's department in Haugesund and from Veidekke's mobile Special Projects construction section.

Work starts immediately and is to be completed in the second half of 2017.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
District Manager Haugesund Ove Nedrebø, Veidekke Entreprenør AS, tel. +47 95 70 29 06, ove.nedrebo@veidekke.no
Head of Department Industry & Energy Erik Eiane, Veidekke Entreprenør AS, tel. +47 91 00 85 98, erik.eiane@veidekke.no
Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33 22, helge.dieset@veidekke.no 

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company's operations are characterised by involvement and local knowledge. Revenue is NOK 24.5 billion (2015), and half of the 7,000 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.

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