Veidekke to build cable tunnel for Statnett

Veidekke Entreprenør AS has signed a contract with Statnett with an overall value of NOK 370 million excluding VAT for tunnel, ground and concrete works, in connection with a new cable tunnel between Smestad and Sogn in Oslo.

The contract comprises building a new 4.5 km cable tunnel between the Smestad and Sogn transformer stations in Oslo.

"We are very pleased with the contract we have signed with Statnett. Veidekke has extensive expertise in tunnels, and this is a project that suits us well. We're looking forward to getting started," says Øivind Larsen, director of civil engineering operations with Veidekke Entreprenør.

Construction work is planned to start in the autumn of 2017.

The contract is included in Veidekke's order backlog for the second quarter.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
Director Øivind Larsen, +47 905 82 351, oivind.larsen@veidekke.no
SVP Finance Jørgen Michelet, mobile +47 917 43 856, jorgen.michelet@veidekke.no
EVP Lars Erik Lund, mobile +47 413 31 369, lars.lund@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 civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is NOK 30 billion and around half of its 7,400 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.