Home » Business News » 2011 » June » June 8, 2011

Veidekke contracts worth NOK 165 million in Telemark

June 8, 2011 - London

In recent months Veidekke Entreprenør, Telemark District, has won contracts totalling NOK 165 million. In Q1 this year the local major contractor has won a number of contracts all over the county, where the Heistad school passive house project in Porsgrunn is the largest.


Pioneering new Heistad School for children in Porsgrunn
Porsgrunn municipality has awarded Veidekke Entreprenør the contract to build a new children's school at Heistad. The school has modern and exciting design with numerous clever solutions both indoors and outdoors. The building will be a so-called passive house, and will be pioneering in terms of energy technology.


"We are proud to be chosen to build the school of the future, where the children's opportunities both indoors and outdoors have been considered, while at the same time being the best one can build today in terms of technology and energy efficiency," says district manager Roger Dreyer."We have been given the opportunity to employ our expertise on such buildings. In recent years Veidekke has erected several energy-efficient buildings, for example the Bellona building in Oslo and the KLP building in Trondheim.We will also exploit experience from a day care centre in Stavern that Telemark District has built in compliance with energy class A," Dreyer adds.


Construction work at Heistad School has started, and the school will be completed in the autumn of 2012. The value of the contract is NOK 74 million excluding VAT.


Other contracts Veidekke Entreprenør in Telemark have signed are:


Sjøfartens hus, Porsgrunn
Veidekke is to build a new signature building for the Sjøfartens Hus Foundation at the water's edge. The building will comprise a modern exhibition area and a new road traffic centre. The building will be completed in the autumn of 2012, and the contract has a value of NOK 30 million excluding VAT.


Elvegården, Porsgrunn
The old technical school at Osebakken is to be rebuilt as a modern housing complex with 14 flats. The entire school has been gutted prior to erecting a new building within the original brick façade. The flats will have a very attractive location next to the river at Osebakken. The flats will be ready for occupation in the spring of 2012. The value of the contract is NOK 35 million excluding VAT. Alfa Eiendom is the principal.


Flats, Ulefoss
In the autumn of 2011 Veidekke will start work on a new building in Ulefoss for PAVO Eiendom. The building will include retail premises and 7 flats. The value of the contract is NOK 16 million excluding VAT. The flats will be ready for occupation in the summer of 2012.


Rehabilitation of reservoirs
Statkraft has awarded Veidekke the contract to rehabilitate two concrete reservoirs in the mountains in connection with Mår power station at Kalhovd south of Rjukan. Work has started and will be completed in the autumn of 2011. The value of the contract is approximately NOK 10 million, excluding VAT.


For more information please contact:
District Manager Roger Dreyer, Veidekke Entreprenør, tel. +47 90 73 66 32,
Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33 22,




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, road maintenance and recycling. 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)
District Manager Roger Dreyer

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



Comment on this story