AF Gruppen - Capital/Financing Update 2016

First large EPC contract for Nye Veier to AF Gruppen

AF Gruppen (AFG) has received a letter of intent from

Nye Veier for engineering, procurement and

construction of the first part of the E18.

The contract concerns of 23 km of motorway between

Tvedestrand and Arendal. There are 4 rock tunnels, 30

concrete constructions and 10 mill. cubic metres of

mass excavation. AFs partners for this project are

Kruse Smith Entreprenør for construction of the

bridges, Otera Infra for the electrical works and

Norconsult for the engineering.

The contract is valued at approx. NOK 3,200 million

excluding VAT. Following a planning period, the work

will start in the winter of 2017. The contract will be

completed in 2019.

"AF has extensive experience with large and complex

infrastructure projects, and this contract is well

suited to our capacity and expertise. We are therefore

delighted to have won this large project, and we are

looking forward to build smarter and more efficiently

together with Nye Veier," says Morten Grongstad, CEO

of AF Gruppen.

For further information:

CEO: Morten Grongstad tel. +47 99 15 39 05

EVP Civil engineering: Arild Moe tel. +47 91 37 62 65

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