Veidekke

Veidekke ASA: To build for OBOS in Tønsberg

Veidekke has won a contract with OBOS to build the first two phases of the

Teieparken project in central Tønsberg, totalling 64 flats. The design and build

contract is valued at approximately NOK 160 million excluding value added tax.

In addition to the 64 flats, Veidekke will also build an adjacent underground

car park, develop parklands with an open surface-water handling system and

prepare public green spaces on behalf of OBOS. The assignment represents the

second stage of a project development agreement signed in November 2017 under

which the parties have collaborated closely to find good solutions for the

benefit of future residents.

"This agreement shows that the positive cooperation model developed by Veidekke

and OBOS, particularly in Oslo, can also be applied to our operations in

Vestfold county. Our shared understanding has resulted in various improvements

to the initial proposals, producing the final development plan as it now stands.

We are grateful for the assignment, humbled by the task before us and look

forward to starting work," says Veidekke district manager Lars N. Hjertås.

Plans for a new railway line have previously tied up parts of the site and

presented the developer with considerable challenges.

"Fortunately, this particular route has now been dropped from the plans, and the

restrictions have been lifted. We therefore hope that this agreement will be the

first of several construction phases, as the plans for Teieparken encompass

approximately 250 residential units in total," concludes Hjertås.

Read more about the project here: www.obos.no/teieparken

Pictured (from left to right): Hans Olav Sørlie, Veidekke Executive Vice

President, Building Construction Norway, and Arne Baumann, Group Head of

Property Development at OBOS Boligutvikling.

For more information, please contact:

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

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

Subscribe to notices from Veidekke (http://veidekke.com/no/borsmeldinger/abonner

-pa-meldinger/)

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 involvement and

local knowledge. Its annual turnover is NOK 32 billion, and half of its 8,000

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.

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