Today Otra Kraft DA has signed a contract with Veidekke Entreprenør to build new transfer tunnels to Brokke power station in Setesdal. This is a turnkey contract with a value of NOK 168.8 million excluding VAT.
Veidekke's work will largely comprise blasting and concrete work. A new transfer tunnel for water almost 8 kilometres in length with a cross-section of 14 square metres is to be built. Veidekke will additionally build two traditional stream intakes and a new intake from Lisle Myklevatn.
Brokke sør is in Valle municipality in Aust Agder county. The works commence shortly, and planned completion is in May 2014.
For more information please contact:
Project manager Tor Harald Haugen with Veidekke, tel. +47 95 21 82 33, tor-harald.haugen@veidekke.no
Project manager Harald Kjetil Glendrange with Otra Kraft, tel +47 95 74 42 54, harald.kjetil.glendrange@ae.no
Communications Manager Helge Dieset of Veidekke, 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 18 billion (2011). 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 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.