Store Norske Spitsbergen Kullkompani AS has awarded a contract to Veidekke Entreprenør AS for developing the infrastructure of the Lunckefjell project on Svalbard. This will be a turnkey contract with a value of NOK 196 million, excluding VAT and options.
Store Norske Spitsbergen Grubekompani AS is planning to develop their coal mining operations in Svea on Svalbard island. The first phase of their development plans involves opening a new mine in Mt. Lunckefjell. This coal mine will be a natural continuation of present day mining operations in Svea Nord.
The contract work consists primarily of a 2.8 km road running across the Marthabreen glacier, filling materials for pithead installations, tunnel construction, water and sewerage systems, electricity supplies and pithead installations (buildings and other structures).
Lunckefjell is located to the north-east of Svea Nord and contains 8.2 millions of saleable coal.
Store Norske Spitsbergen Grubekompani are planning to commence preparatory development work on the Lunckefjell mine on 1 September 2013. This means that all the infrastructure installations included in the turnkey contract will primarily be built during 2012 and completed during summer of 2013.
For more information please contact:
Project manager Roy Are Hanssen, Store Norske, tlf +47 79 02 51 32/41 41 08 60, roy.are.hanssen@snsk.no
Regional Manager Ronny Robertsen at Veidekke, tel: +47 97 98 30 84, ronny.robertsen@veidekke.no
Departmental Manager Jostein Nordstrøm at Veidekke, tel: +47 90 16 43 20, jostein.nordstrom@veidekke.no
Communications Manager Helge Dieset at Veidekke, tel: +47 90 55 33 22, helge.dieset@veidekke.no
Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a turnover of NOK 16.3 billion (2010). Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals. Veidekke is characterized by a decentralized organizational model with a strong corporate culture and a high degree of employee involvement. Over half the employees are co-owners, holding almost 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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