YIT selected as service provider for the excavation contract of Espoo City Rail
YIT Corporation Press Release 11 March 2024 at 11.30 a.m.
The Finnish Transport Infrastructure Agency and YIT Infra Oy have signed an agreement on the implementation of the excavation contract for the Espoo City Rail. The preparatory work for the contract will start in the coming days and the actual construction work in the contract area will start in April 2024. The work is expected to be completed by the end of September 2026.
The total value of the excavation contract is approximately EUR 13 million and it will be recorded in the order book for the first quarter of 2024. In addition, the contract includes an option for further work valued at approximately EUR 7 million. The Finnish Transport Infrastructure Agency will decide on ordering of the option by September 30, 2024.
The construction work of the excavation contract includes e.g. open pit excavation, crushing and transportation of aggregates, construction of track structural layers, retaining walls and service roads as well as construction of overhead lines and foundations. All generated rock ore is crushed for use in Espoo's City Rail contracts. The possible option for further work includes e.g. construction and equipment of the tunnel and installation of fasteners related to electric railway equipment.
"We are happy to start work on the excavation contract for the Espoo City Rail. The contract allows us to use the competence of our Infra segment extensively in both rail and bridge construction as well as ground and rock engineering. For our part, we want to promote the construction of emission-free traffic in cities, and the Espoo City Rail project is a great example of this," says Aleksi Laine, EVP of the Infra segment at YIT.
YIT announced earlier, that the construction consortium of YIT and NRC Group Finland has been selected as the service provider for the construction of Area 2 of the Espoo City Rail. The agreement for Area 2 was signed in February 2024 and work in the contract area is starting. The total value of the Area 2 contract to YIT is approximately EUR 18 million.
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 a leading construction and development company. Building on over 110 years of experience, we develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure to support the green transition. We employ approximately 4,300 professionals in eight countries. Our revenue in 2023 was EUR 2.2 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.
