Veidekke and Hochtief signed NOK 1.568 billion contract

Tuesday, 13. March 2012 15:18
The E6 - Dovrebanen Joint Project today signed a contract with Veidekke
Entreprenør and Hochtief Solutions for road and railway construction between
Brøhaug and Strandlykkja alongside Lake Mjøsa. The value of the contract is NOK
1.568 billion excluding VAT.

In order to ensure integrated planning and development of the road and railway
alongside Lake Mjøsa, the Norwegian Public Roads Administration and the National
Rail Administration have established the E6-Dovrebanen Joint Project. A total of
21.5 km of four-lane motorway and 16.8 km of dual-track railway are to be built
alongside Lake Mjøsa. This has been divided into three subsections. The contract
for the middle section will be jointly carried out by Veidekke (60%) and
Hochtief (40%). Based on the agreement with Hochtief, accounting will most
likely be according to the equity method.

Among other things, the contract involves:
·         Approx. 5.6 km four-lane E6 motorway, including the 2.3 km Morskog
·         Approx. 6.8 km dual-track railway, including the 3.9 km Ulvin tunnel
and the 200 metre Morstua tunnel
·         6 km Mjøstråkk (pedestrian and cycle path)

Work will commence in April. The new road will be completed in October 2014 and
the new dual-track railway in the autumn of 2015.

For more information about the project:

For more information please contact:
Project Manager Nils Brødsjø, Veidekke Entreprenør, tel.
+47 951 36 576,
Communications Manager Helge Dieset, Veidekke ASA, tel. +47 21 05 77 91 /
+47 90 55 33 22,
Construction Manager Elin Hermanstad Havik, the E6-Dovrebanen Joint Project,
tel. +47 48 11 85 40,

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, 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 acc. to §5-12 vphl
(Norwegian Securities Trading Act)

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Veidekke ASA via Thomson Reuters ONE

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