YIT signs an agreement on the implementation phase of Lapland Central Hospital

YIT Corporation      Investor news      February 3, 2020      at 1:00 p.m.

YIT, as part of an alliance, has signed an agreement on the implementation phase of the first part of Lapland Central Hospital expansion project. The project is implemented using the alliance model, and the total value of the first part, the general hospital, for YIT is EUR 48 million. The contract will be entered in the order backlog of the first quarter of the year.

Prior to the implementation phase, YIT was involved in the development phase of the project, which started in 2018. YIT’s respective news release was published on December 27, 2018.

The approximately 20,600 square meters of general hospital will house an accident and emergency facility, an operating and anesthesia department, an intensive care and control unit, a hospital pharmacy with manufacturing facilities, equipment maintenance, emergency care facilities and a logistics warehouse. Another building, about 6,000 square meters, will house a psychiatric hospital, the development phase of which will continue until September 2020. The entire project is scheduled to be completed in January 2023 and the total value for YIT is estimated to be over EUR 60 million.

In addition to YIT in the role of project supervisor, the alliance includes ARE as the party responsible for technical building systems, Verstas Architects Ltd and a special engineering group comprised of Granlund Group, WSP Finland and L2 Paloturvallisuus Ltd. Outside the alliance, Prodeco Oy Lappi, as part of the A-Insinöörit Group, is responsible for the construction consulting and supervisory.

For further information, please contact:

Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Esa Neuvonen, EVP, Business Premises and Partnership Properties, YIT Corporation, tel. +358 (0)40 500 1003, esa.neuvonen@yit.fi

YIT CORPORATION

Tommi Järvenpää
Vice President, Investor Relations

Distribution: NASDAQ Helsinki, key media, www.yitgroup.com 

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when the over-100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com