Veidekke

Regulatory Filings • Apr 3, 2020

Veidekke ASA: To build Sandefjord Upper Secondary School

Veidekke ASA: To build Sandefjord Upper Secondary School

Veidekke has signed a contract with Vestfold and Telemark county municipality to

build and refurbish Sandefjord Upper Secondary School. This assignment involves

both a new build component and the reconstruction of a significant proportion of

the existing school buildings. The assignment is a collaborative contract with a

target price of NOK 422 million excluding VAT.

Sandefjord is Norway's largest upper secondary school and is currently home to

2,000 pupils and 350 members of staff. The school is now facing a major upgrade,

and following its expansion and refurbishment there will be approximately 41,500

m[2] of building stock.

School construction projects are a priority area for Veidekke, and this is the

fifth time in the course of 12 years that Veidekke has won a tendering

competition to build an upper secondary school in Vestfold and Telemark. The pre

-project period, including the collaborative phase, took place between July and

November 2019. The next phase will begin after Easter.

'We are grateful for the trust shown in us and are looking forward to getting

started on the building works. By working together with Vestfold and Telemark

county municipality, we will ensure the existing buildings satisfy the needs of

pupils and staff for a modern school. We will also be maintaining a full focus

on interaction, good dialogue and great solutions so that the school can remain

operational throughout the majority of the construction period,' says District

Manager Lars N. Hjertås of Veidekke Bygg Vestfold og Telemark.

Veidekke will construct two new builds with a total area of approximately 5,000

m[2], of which the largest will be built using solid wood and will have three

storeys. Additionally, refurbishment will take place of a further 11,000 m[2] of

building stock and technical systems will be replaced across a total building

stock area of 20,000 m[2]. In the renewed areas of the school, we will be making

changes to the floorplan, as well as installing new surfaces and new technical

systems. The facade and roof will both be refurbished with supplementary

insulation. The works will take place in phases while the school remains fully

operational.

This project will be carried out as a fossil-free construction site and with a

goal for waste sorting rate of 95%. The solid wood load bearing system in the

new build will contribute to a reduction in greenhouse gas emissions and the new

technical systems and supplementary insulation will in combination reduce the

school's energy requirements significantly.

Construction is scheduled to begin at the end of April 2020, with completion

scheduled for January 2023.

For more information, contact:

EVP Hans Olav Sørlie, tel. +47 91 74 49 23, hans-olav.sorlie@veidekke.no

District Manager Lars Nicolas Hjertås, tel. +47 92 29 71 92,

lars.hjertas@veidekke.no

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

helge.dieset@veidekke.no

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

-Pressebilder-Veidekke/)

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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.