Veidekke ASA: Veidekke to build culture hotel in Fosnavåg

Today Veidekke Entreprenør has signed a contract with Fosnavåg Vekst AS to build a hotel with a concert hall and cinema in Fosnavåg in Herøy municipality. This will be a turnkey contract valued at NOK 202 million, excluding VAT.

The structure will have a gross floor area 9,000 sqm and include a hotel with 116 rooms, a concert hall with 450 seats in an amphitheatre design, a cinema and ship simulator for the offshore industry. Thon Hotels will operate the hotel.

At the front of the project/site Veidekke will build a quay 140 meters in length, and parts of this will be used for floatation piers for recreational vessels.

"This is a large and challenging assignment, and we are very satisfied to have been selected as turnkey contractor. We have had a long and good relationship with the client during development of the project, which has turned into much more than a hotel and has backing from several large companies in southern Sunnmøre," says head of department Rune Eikrem with Veidekke Entreprenør.

Construction will start in early January with completion on 15 August 2014.

For more information please contact:
District Manager Rune Karlsen of Veidekke Sogn og Fjordane, tel. +47 97 06 52 43, rune.karlsen@veidekke.no
Head of department Rune Eikrem of Veidekke Volda, tel +47 91 34 05 09, rune.eikrem@veidekke.no
Project manager Olav Arntsen of Fosnavåg Vekst, tel. +47 94 83 88 48, arntsen@fosnavaagvekst.no
Communications Manager Helge Dieset of Veidekke, tel. +47 21 05 77 91 /+47 90 55 33 22, helge.dieset@veidekke.no

Veidekke is one of Scandinavia's leading contractors and property developers with a turnover of 18 billion (2011) and 6,500 employees. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals. Veidekke is characterised by a strong corporate culture with employee involvement and co-ownership as important cornerstones. More than half of the employees are co-owners, holding around 20% of the Group's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss 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.