Down Town, Porsgrunn

Down Town is the largest shopping centre in the county of Telemark. The contract covers construction of a new parking house with parking facilities for 340 vehicles; a new entrance and new shops. In addition, substantial refurbishing work will be carried out in the existing shopping centre. The common area will be renewed with new floor tiles and a new light system, and the facades of the shops will be modernised. The main 'square' in the centre will also be given a face-lift.

Preparatory work will start immediately, and the groundwork will start as soon as all public approvals are ready. The bulk of the work in the existing centre will be carried out in 2006, but the new parking house and the new areas will be ready for this year's Christmas shopping. The total work is scheduled for completion during the second quarter of 2006. The contract value is NOK 93 million.

"We have been working on this project for a long time now, and we are very pleased that we will now be able to start construction. This contract will also provide work for about 33 - 40 people employed with other local companies," says District Manager Trond Karlsen, Veidekke Entreprenør AS.

The extension of Farmandstredet will cover approximately 20,000 m2, which will be built on the site where the VKT bus terminal is today. When finished, the project will contain a new modern bus terminal, a two-floor shopping centre and parking facilities. The new wing will be linked to the existing shopping centre and the two buildings will appear as one unit. The project has been developed in close cooperation between Steen & Strøm Norge AS and Veidekke Entreprenør AS.

"This contract is of great importance both to Veidekke Entreprenør and to our subcontractors," says District Manager Harald Lausund.

Construction will start on 1 March 2005 when VKT's bus terminal will be moved to Jernbanegaten. The foundation work has been scheduled to start on 1 April provided all public approvals are in order. The contract, which has a value of NOK 173 million, will be completed by 1 October 2006.

For more information please contact:

Technical Director Tryggve Postmyr, Steen & Strøm Norge AS, mobile +47 922 43 636

Regional Manager Haavard Skare, Steen & Strøm Norge AS (Down Town) mobile +47 911 86 616

Centre Manager Ronny Strømnes (Farmandstredet),

mobile + 47 900 55 434

District Manager Trond Karlsen, Veidekke Entreprenør AS (Down Town), mobile +47 90615930

Project Manager Roger Dreyer, Veidekke Entreprenør AS

(Down Town), mobile +47 90736632

District Manager Harald Lausund, Veidekke Entreprenør AS (Farmandstredet), mobile+ 47 91553140

Project Manager Rune Fossland, Veidekke Entreprenør AS (Farmandstredet), mobile+ 47 90166480