Construction consortium of YIT and NRC Group Finland selected as service provider for Espoo City Rail

YIT Corporation Press Release 12 January 2024 at 2:30 p.m.

The Finnish Transport Infrastructure Agency has chosen the construction consortium of YIT and NRC Group Finland as service provider for the construction of the Area 2 of the Espoo City Rail. The contract will include services such as rail construction, ground, and foundation work, as well as the construction of bridges and platforms. Construction work in Espoo will start in early 2024 and the project will last until the first half of 2028.

The total value of the contract is approximately EUR 36 million, of which YIT's share is 50% valued at approximately EUR 18 million. After the signing of the contract, this will be recorded in the order book for the first quarter of 2024. The official signing of the contract will take place at the end of January at the earliest after the appeal period for the regional contract has ended.

"We are pleased that our consortium has been chosen as the service provider for Area 2 of the Espoo City Rail. Rail construction and sustainable development of cities are our core competences, and we have been able to demonstrate this competence in recent years in the most significant railway projects in Finland. The Espoo City Rail project is an important continuation of improving local transport in the capital region. We are delighted that our professionals have the opportunity to continue their work for the development of the capital region with our partners", said Aleksi Laine, EVP of the Infra segment at YIT. 

The Espoo City Rail project is part of the development of the capital region's public transport system. The aim of the railway is to enable frequent, regular and independent local train traffic in the region, independent of the disturbances of long-distance traffic. At the same time, its goal is to improve the punctuality and smoothness of the long-distance traffic in the direction of Turku and the local traffic of Karjaa, Kirkkonummi and Espoo. Espoo City Rail is also the first stage of the high-speed Helsinki-Turku train connection.

For further information:

Aleksi Laine, EVP of the Infra segment, YIT
Media inquiries through corporate communications, tel. +358 44 743 7536, press@yit.fi

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure for smooth mobility. We employ around 5,000 professionals in eight countries: Finland, Sweden, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com