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Veidekke

Earnings Release Jun 8, 2021

3781_rns_2021-06-08_c690cbc2-a6ab-4a45-b7a4-7370bc262645.html

Earnings Release

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Veidekke ASA: New contract for Bergen Light Rail

Veidekke ASA: New contract for Bergen Light Rail

Today Veidekke has entered into a contract with Bybanen Utvikling to build 800

metres of pedestrian and cycle path, including through the disused Kronstad

tunnel in Bergen. This is an environmentally certified contract valued at NOK

314 million excluding VAT.

"It's very gratifying to have the opportunity to build more green infrastructure

in a sustainable manner, and we're proud of winning the competition for a large

and important commission for Bybanen Utbygging for the ninth time. This is a

complex and multidisciplinary contract that is a very good fit for us at

Veidekke Bergen. Winning this contract proves that our strategy of focusing on

the environment and having our own locally employed skilled workers and

engineers is appropriate and desirable to our customers," says district manager

Erlend Bygnes of Veidekke Bygg Bergen.

The Kronstad tunnel is a 450 metre long old railway tunnel that Veidekke will

expand and protect from water and frost, and also build an extra exit lane

through rock and loose material. The cycle path extends in a 350 metre open air

section that follows the previous railway route. In parallel with building the

cycle path, a new water main will be laid along the section.

Veidekke will also build a turning track for Bane NOR at Møllendal in a 100

metre long culvert and a 70 metre long rock tunnel. The new turning track will

be a replacement for the current section that will become the new pedestrian and

cycle path. The Drevelin building and the old bridge will be demolished, and

rock will be reused in the portal at Møllendal graveyard.

Startup of the construction work is planned for as soon as June this year, with

completion after an estimated construction period of 19 months. More information

about the project can be found here: https://www.hordaland.no/nb-NO/bybanen

-utbygging/artikkelarkiv/sykkelveien-og-kronstadtunnelen---slik-blir-oppstarten/

For more information please contact:

District Manager Erlend Bygnes, tel. +47 97 09 53 33, [email protected]

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

[email protected]

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

-Pressebilder-Veidekke/)

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Veidekke (http://veidekke.com/no/borsmeldinger/abonner-pa-meldinger/)

Veidekke is one of Scandinavia's largest contractors. The company undertakes all

types of construction and civil engineering contracts, maintains roads, and

produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and

local experience. Its annual turnover is approx. NOK 38 billion, and around half

of its 8,100 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.

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