Veidekke Entreprenør AS has signed a contract with Larvik Strandhotell AS for the development of a new spa hotel, 'Farris Bad', in Larvik. This is a turnkey contract for structural work worth NOK 161.3 million, excl. VAT.

 

The client is Larvik Strandhotell AS, which is owned by Treschow-Fritzøe  AS and Canica AS. Choice Hotels Scandinavia AS will lease and operate the hotel.

Veidekke started discussions with the client about this project in 2003 and negotiations have led to the contract that has now been signed.

The hotel will be Norway's leading spa hotel, with full conference facilities on site. It will have 177 rooms and suites of different designs and different qualities.

The six-storey hotel will have a total floor area of 15,700 sq.m. The excavation work has already started and the completion date for the hotel is 5 March 2009.

For further information, please contact:

Veidekke Entreprenør AS

District Manager Rolf Christian Andersen tel. +47 33307979, mobile +47 90668576

e-post  rolf-christian.andersen@veidekke.no

VEIDEKKE ASA

Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,350 employees and an annual turnover of NOK 16.4 billion (2006). Veidekke is listed on the Oslo Stock Exchange. It has a wide group of shareholders and 14% of the shares are held by the company's employees. The company's activities cover a large range of building and construction contracts, development of housing and commercial projects for private and public customers, asphalt operations and road maintenance, and collection and recycling of waste.