YIT awarded contract on first excavation work phase for Posiva's final disposal facility

YIT Corporation Investor news November 29, 2016 at 1:30 p.m.

YIT and Posiva Oy have today signed a contract on the excavation of the first tunnels for Posiva's final disposal facility. The value of the contract is about EUR 20 million for YIT, and it will be recorded in the order backlog of the last quarter. 

The employment impact of the contract is significant, about 100–125 person years, including the subcontractors, during the ca. two-and-a-half year contract period. The contract covers, for example, the excavation of the first central tunnels as well as the vehicle access tunnels to them.

Preparatory excavations are also carried out in the area as well as rock sealing works in preparation for the raise boring of a canister shaft where the canister lift will later be installed. Excavation works for the canister receiving station at the depth of ca. 430 metres are also part of the contract.

The Radiation and Nuclear Safety Authority in Finland (STUK) has concluded in the decision it issued on November 25, 2016 that Posiva is in the position to start the construction of the final disposal facility. The decision and the contract that has now been awarded make it possible to launch the first licensed work phases of the final disposal facility as referred to in the construction licence.

“Co-operation with Posiva has been successful already during the previous excavation contract.  When both parties share the same objectives and interests, cooperation becomes more flexible and competences can be utilised more effectively”, says Ari Bergström, Vice President of rock construction at YIT.

“The Finnish Government granted Posiva the construction licence for the final disposal facility in November 2015. Preparations for the construction stage have proceeded well, and we are now able to start the first actual excavation work phase for the final disposal facility together with YIT”, Posiva's President Janne Mokka concludes.

The next construction contracts related to the construction of the final disposal facility will be awarded as the project progresses.

For more information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi

Ari Bergström, Vice President, YIT Construction Ltd, tel. +358 (0)40 830 7336, ari.bergstrom@yit.fi

Distribution: NASDAQ Helsinki, major media, www.yit.fi

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