AF Gruppen - Capital/Financing Update 2017

AF Gruppen to build new helicopter base at Banak

The Norwegian Defence Estates Agency (NDEA) has nominated AF Gruppen

(AFG) as contractor for a new helicopter base at Lakselv airport,

Banak. This is a similar base to the one AF is currently building at

Ørlandet.

The contract includes building a new hangar building for the 330

Squadron at Lakselv airport, Banak. The project also includes

outdoor facilities on landside and airside. Landside work primarily

comprises a new access road and parking areas, while airside work

includes three helicopter stands. Approximately 6 000 m2 gross area

of new buildings will be erected, in addition to around 15,000 m2 of

outdoor facilities.

The contract is a turnkey contract valued at NOK 205 million

excluding VAT. Work commences in August 2017, and the construction

period is expected to last for approximately 1,5 years.

"This is an important and interesting contract for our building

operations. We are very pleased that the NDEA again has chosen AF as

contractor on a helicopter base project," says Morten Grongstad, CEO

of AF Gruppen.

For further information:

CEO AF Gruppen: Morten Grongstad, tel. +47 991 53 905

EVP Building South-West, AF Gruppen: Bård Frydenlund, tel. +47 918

68 621

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