The project has a floor space of approximately 4,500 square metres with two lower ground floors and four main floors. There will be parking facilities on the lower ground floors; shops, restaurants and office premises on the ground floor and first floor; and 48 flats on the upper floors. The total area is approximately 20,000 square metres.

The contract is a negotiated turnkey contract and marks the first part of a major development plan that Treschow-Fritzøe has for the sea front of Larvik, from the Farris River to the landing stage of the ferry Petter Wessel. Architect for the project is Nils Torp AS and consulting engineers are Statkraft Grøner AS.

"It is exciting to be a partner in this project, which is one of the largest building projects in the county of Vestfold. The project is demanding, even for a company of Veidekke's size," says President & CEO Terje Venold. "However, we are well qualified and the contract will be carried out by a joint venture of two of our district offices, Vestfold and Telemark," he adds.

The excavation work has already started, and according to the time schedule project will be completed by 1 February 2004. However, the commercial premises and the outdoor area will be completed by 30 October 2003. According to Veidekke's estimations there will be a working staff of approximately 60 people on the project.

For further information, please contact Project Manager Einar Næss, Veidekke ASA, phone +47 33 30 79 79 or mobile phone + 47 916 48 320.