YIT to build warehouse facilities for Prysmian Group at the production site of submarine cables in Kirkkonummi
YIT Corporation Investor News 19 June 2024 at 9:00 a.m.
YIT to build warehouse facilities for Prysmian Group at the production site of submarine cables in Kirkkonummi
YIT has signed a contract with Prysmian Group Finland Oy for the construction and expansion of warehouse facilities in the company's Kirkkonummi production site for submarine cables. The total value of the construction project is approximately EUR 35 million. The contract will be entered in the order book for the second quarter of the year.
The contract includes the expansion of four hall buildings and the construction of a new material warehouse in the area. The new facilities will cover an area of 26,000 m2. The contract includes demanding ground engineering, concrete and steel construction work, as well as building systems engineering. The project is expected to be completed in June 2026.
"We are pleased to continue the good cooperation with Prysmian Group in developing the production plant project for submarine cables. The project highlights our expertise in demanding and versatile production industry construction, as well as our ability to create tailor-made solutions for the customer's needs. We are happy to be part of this project promoting green transition, which is at the heart of our strategy”, said Aleksi Laine, Director of YIT's Infra Segment.
"We are pleased to continue our cooperation with YIT in the expansion of Prysmian's submarine cable center of excellence and factory production capacity in Pikkala. The contract now signed is a natural continuation of the ongoing cable tower construction project, which has progressed according to plan and on schedule," said Ferdinando Quartuccio, Country CEO of Prysmian Group Finland.
YIT was chosen as the implementation phase partner for the cable tower project in the summer of 2023. The tower reached its ridge height of 185 meters at the end of last year, and the tower is scheduled to be completed in the summer of 2025.
With the investment in Kirkkonummi, Prysmian Group is responding to the growth in demand for land and submarine power cables accelerated by the energy transition and related technology. High-voltage submarine cables are used to power green transition investments such as offshore wind turbines.
For further information:
YIT’s Corporate communications, tel. +358 44 743 7536, press@yit.fi
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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.
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