Veidekke in Sogn to build a shopping centre and power station

Veidekke Entreprenør has been commissioned to extend the Sogningen Storsenter shopping centre in Sogndal and to build Eldrevatn power station in Hemsedalsfjellet. The two jobs have a total contract value of NOK 145 million excluding VAT.

On the instructions of Amfi Drift AS, Sogningen Storsenter will be extended northwards with retail sales on two storeys, as well as car parking at street level and on the roof. The present centre and Sogndal's post office building will now be joined together into one centre. When the extension is complete, Sogningen Storsenter will have a gross area of 22,000 m2 in addition to 3,000 m2 of covered parking.

This will be a turnkey contract with a value of about NOK 90 million, excluding VAT. Building work is now starting and the project is due for completion in time for Christmas shopping in November 2012.

The assignment for Østfold Energi for Eldrevatn power station involves construction of the water intake, the power station above ground and an underground penstock of about 4,500 m. The power station will be located on the road between Gol and Lærdal at a height of 1,150 metres above sea level. This will be a main contract with a value of about NOK 55 million, excluding VAT. Preparatory work has begun and the work will be carried out during the 2012 and 2013 summer seasons.

  
For more information please contact:
Rune Karlsen District Manager, Veidekke Sogn og Fjordane, tel +47 970 65 243, rune.karlsen@veidekke.no
Svein Even Dale, Departmental Manager, Veidekke, tel +47 913 00 429, svein-even.dale@veidekke.no
Helge Dieset, Communications Manager tel +47 21 05 77 91 / +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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District Manager Rune Karlsen in Veidekke Sogn og Fjordane pdf