AF Gruppen

Regulatory Filings • Jun 23, 2023

To build school in Trondheim

To build school in Trondheim

Reference is made to the stock exchange announcement published November 19, 2021, in which Betonmast, a subsidiary of AF Gruppen, was selected by Trøndelag County Municipality for the renovation of existing buildings and construction of a new building for Trondheim Cathedral School in Trondheim. Since 2021, the project has been developed in collaboration. Betonmast has today signed a contract with Trøndelag County Municipality for the construction phase and the contract value is approx. NOK 400 million excl. VAT.

Trondheim Cathedral School was founded in 1152 and is Norway's oldest school. The school will be rehabilitated and expanded to accommodate even more students. The project includes renovation/rehabilitation and development of the current building stock as well as new buildings. The total gross area of the existing building stock is about 10,000 m2, while the new building area is about 4,000 m2.

It has been agreed that the project will be carried out with a zero-emission construction site and high environmental ambitions, particularly about reuse. The school will have a student count of 690 from 2025.

“Trondheim Cathedral School, with its unique history and location, is a well-known and beloved institution in Trondheim, so this is a very special job for Betonmast. We look forward to upgrade the school to a modern institution, where we will safeguard the history while facilitating a good and improved learning environment, for the benefit of all the school's users”, says CEO Peter Sandrup of Betonmast.

Construction is subject to government approvals, but this is expected during the fall. Completion is estimated for summer 2025.

For further details, please contact:

Peter Sandrup, CEO of Betonmast, tel.: +47 915 88 645

Bård Frydenlund, EVP of Sweden and Betonmast for AF Gruppen, tel.: +47 918 68 621