Veidekke

Regulatory Filings • Jun 22, 2020

Veidekke ASA: To rebuild Bakås school in Oslo

Veidekke ASA: To rebuild Bakås school in Oslo

Veidekke's subsidiary Seby AS and Undervisningsbygg Oslo KF have entered into a

contract for an extension and rehabilitation of Bakås school at Ellingsrud in

Oslo. The project is a turnkey contract valued at NOK 166 million, excluding

VAT.

"We're looking forward to embarking on an interesting school project for

Undervisningsbygg, as building good schools is one of the most rewarding things

we as contractors can do. The sustainable solutions in all phases of the

building project are in line with Seby and Veidekke's environmental ambitions,"

says general manager Bjørn Ove Liavaag of Seby AS.

After the extension, Bakås school will have a floor area of approximately 5,000

m[2] and will be expanded from a 1 to 2 parallel classes elementary school. In

addition the gymnasium and changing rooms will be rehabilitated and new outdoor

areas will be developed. The school's premises are also designed for use by

other actors beyond the school's core activities. This concerns the auditorium,

library, the after school programme areas, music room, home economics and arts

and handicraft premises.

Both the finished building and the construction phase have strong ambitions with

regard to environmental considerations. The new building will meet the energy

-plus building requirements in accordance with FutureBuilt's definition, and

load-bearing systems will be implemented with massive wood. There will be solar

panels on roofs, in addition to an emissions-free building site. Solar panels

and geothermal heating will also be used as an energy source during the

construction phase.

Construction is scheduled to start in August 2020 with completion planned for

May 2022. The project will comply with the strict requirements adopted by the

City of Oslo to ensure the use of apprentices and combat work-related crime and

social dumping.

For more information, contact:

General manager Bjørn Ove Liavaag, tel. +47 90 69 35 77, bjorn

-ove.liavaag@veidekke.no

Head of department Geir Viken, tel. +47 91 83 04 70, geir

-morten.viken@veidekke.no

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

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building construction and civil

engineering contracts, develops residential projects, maintains roads, and

produces asphalt and aggregates. The company is known for its engagement and

local knowledge. Annual turnover is approximately NOK 39 billion and around half

of its 8600 employees own shares in the company. Veidekke is listed on the Oslo

Stock Exchange and has always posted a profit since it was founded in 1936.