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Veidekke ASA (OSL:VEI) Veidekke Entreprenør AS today signed a contract with the Norwegian Public Roads Administration for the construction of the Løren tunnel in Oslo. The value of the contract is NOK 622 million ex. VAT. Construction is expected to commence as soon as September 2008 and is expected to last for five years.
The Løren tunnel will stretch from Økern to Sinsen. 900 metres of rock tunnel in two courses will be built, as well as two concrete constructions at each end. When the work on the Løren tunnel is completed in 2013, the existing stretch of Ring 3 between Økern and Sinsen will be converted to a local road.
For further information contact: District manager Lars Tunli, Veidekke Entreprenør AS, tel. +47 21 05 50 00/+47 911 28 362, lars.tunli@veidekke.no
Veidekke ASA is a leading Scandinavian contractor and property developer with 6,500 employees and an annual turnover of NOK 19.3 billion (2007). The group is listed on the Oslo Stock Exchange and has a broad ownership structure where the employees own 16% of the shares. Operations span a wide range of construction and works assignments, the development of housing and commercial property for private and public clients, asphalt operations and road maintenance and collection and recycling of waste.
