Veidekke

Earnings Release • Jun 27, 2023

Veidekke: New contract with Fornebubanen valued at more than NOK 1 billion

Veidekke: New contract with Fornebubanen valued at more than NOK 1 billion

Today Veidekke has signed a contract with Fornebubanen to build a tunnel on the

2 km section from Majorstua to Skøyen in Oslo.. The commission is an execution

contract with an estimated value of almost NOK 1.4 billion excluding VAT.

"We are proud to have won the competition for yet another stage on Fornebubanen,

and we are pleased to be able to continue the good cooperation we have from the

section between Lysaker and Vækerø. We value this type of commission very

highly, where we can contribute to sustainable urban development by building

important infrastructure that will transport thousands of travellers every

single day for a long time to come," says Neal Nordahl, Director of Veidekke

Anlegg.

Veidekke will carry out groundworks and operate the tunnel between Skøyen

station and Volvat. It also includes a side/escape tunnel and a cross cut at

Madserud where the spoil material will be taken out. The contract includes some

challenging geology with critical grouting work. Among other things, the tunnel

will cross under Røabanen, Sørkedalsveien and the water and sewage tunnel to

VEAS.

"There was close and even competition for this contract. Three different actors

submitted offers. Veidekke was the actor who achieved the highest score in the

thorough evaluation process. Veidekke scored the highest on the award criteria

price, quality and environment," says project manager Hanne Elisabeth Wiig of

Fornebubanen.

Rigging at Madserud will start immediately after the holidays, while

construction work is scheduled to start at the end of August with completion

planned for the first quarter of 2027.

The contract is included in Veidekke's order book for the second quarter. More

about Fornebubanen here. (https://www.oslo.kommune.no/slik-bygger-vi

-oslo/fornebubanen/#gref)

For further information, please contact:

Neal Nordahl, Director of Veidekke Anlegg, tel. +47 90 92 44 64,

neal.nordahl@veidekke.no

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

Communications Director Line Fredriksen of Fornebubanen, tel. +47 91 36 25 54,

line.fredriksen@fob.oslo.kommune.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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Veidekke (http://www.veidekke.no) is one of Scandinavia's largest contractors.

In addition to undertaking all types of building and civil engineering

assignments, the group also maintains roads and produces asphalt and aggregates.

Veidekke emphasises stakeholder involvement and local experience. Annual

turnover is approx. NOK 39 billion, and almost half of its 8,000 employees own

shares in the company. Veidekke is listed on the Oslo Stock Exchange and has

posted a profit every year since its inception in 1936.