Veidekke signed E18 contract in Vestfold

Today Veidekke Entreprenør AS has signed a contract with the Norwegian Public Roads Administration to build the second stage of a total of three stages on the Gulli - Langåker stretch. The contract comprises the Holmene - Tassebekk stretch, and the value of the contract is NOK 425 million excluding VAT.

The E18 road in central Vestfold is to be expanded from a two-lane road to a four-lane road between Gulli and Langåker. A total of 24 kilometres of new road is to be built under three contracts. Currently it is the 6.95 kilometre stretch between Holmene and Tassebekk that is in line.

The existing two-lane road is being expanded to a four-lane road with a central divider. The current two-lane road is to be upgraded to new northward lanes, while two new lanes for southward traffic will be built to the west of the current road. The dimension class for the new road is S9 with a 100 km/h speed limit and a road width of 28 metres. 

The contract comprises all work including asphalt and marking. Electrical/MRM work (management, regulation and monitoring) and local noise measures will be carried out under separate contracts. The project will be carried out in cooperation with Veidekke's subsidiary Trafikk & Anlegg AS. Work starts at the turn of the year, and is to be completed in October 2014.

More information on the development of the E18 in central Vestfold: http://www.vegvesen.no/Vegprosjekter/e18vestfoldmidt

For more information please contact:
Project Manager Kristian Senland, Veidekke Entreprenør AS, tel. +47 95 13 66 09, kristian.senland@veidekke.no
Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33 22, helge.dieset@veidekke.no
Project Manager Steinar Aspen with the Norwegian Public Roads Administration, tel. +47 915 25 743, steinar.aspen@vegvesen.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 acc. to §5-12 vphl (Norwegian Securities Trading Act)