Veidekke

Earnings Release • Aug 7, 2019

Veidekke ASA: To clear Langøyene in Oslo

Veidekke ASA: To clear Langøyene in Oslo

Veidekke has today signed a contract with the City of Oslo to clear and secure

the former landfill at Langøyene, transforming it to enable bathing and

recreation at the site located in the inner Oslo Fjord. The assignment on behalf

of the City of Oslo Agency for Real Estate and Urban Renewal is worth

approximately NOK 200 million excluding VAT.

The island of Langøyene in the Oslo Fjord served as the landfill site for all

household and industrial waste in the City of Oslo from 1908 until 1948 when it

was closed and capped. After the waste began to appear on the grass in covering

the old site in the summer of 2013, environmental engineering examinations was

conducted. These surveys identified environmental toxins in high concentrations

both in the landfill deposit itself and in the upper surface.

'We are very pleased to have won this prestigious contract. Veidekke has

extensive expertise in processing contaminated land, and we are looking forward

to working together with the City of Oslo Agency for Real Estate and Urban

Renewal to ensure that this idyllic and popular open-air gem is once again made

available for the people of Oslo to enjoy,' says Executive Vice President of

Veidekke Anlegg, Øivind Larsen.

Veidekke won the tendering competition following the pre-qualification of five

bidders. Quality and the environment were both key criteria in selecting a

contractor.

The project will involve Veidekke ensuring that there is no direct contact with

contaminated masses at ground level and that there is no leakage of contaminants

into the fjord. Meanwhile, beach facilities and jetties will also be upgraded,

in addition to the construction of a storage building and service building, as

well as the establishment of a new solution for the supply of water and removal

of sewage. Following the completion of these initiatives, Langøyene will once

again be a gem of the Oslo Fjord, better equipped to receive the people of Oslo

visiting an open-air leisure area without any contamination.

Work is scheduled to commence in the autumn and will continue until July 2021.

More information about the project is available at www.oslo.kommune.no/politikk

-og-administrasjon/slik-bygger-vi-oslo/langoyene/

For more information, contact:

Executive Vice President Øivind Larsen , tel. +47 90 58 23 51,

oivind.larsen@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 involvement and

local knowledge. Annual turnover is approx. NOK 36 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.