Veidekke

Environmental & Social Information • Nov 28, 2018

Veidekke ASA: Contract for building 795 student bedsits in massive wood in Ås

Veidekke ASA: Contract for building 795 student bedsits in massive wood in Ås

Today Veidekke has signed a contract with the University Foundation for Student

Life in Ås (SiÅs) to build eight blocks with a total of 795 student bedsits.

This will likely be the world's largest student housing project in massive wood,

and the choice of material provides significant environmental benefits in the

form of reduced CO2 emissions. The value of the contract is NOK 497 million

excluding VAT.

The Norwegian Veterinary Institute and the Faculty of Veterinary Medicine at the

Norwegian University of Life Sciences (NMBU) are moving to Campus Ås. There is

therefore a need to build a large number of student residences that will be

ready to accommodate new students in the autumn of 2020.

"In 2012 we and Veidekke started construction of the first two blocks of student

bedsits from massive wood in Norway, and this started a trend that has spread

throughout the country. We are proud to have been the first, and the fact that

we will now be taking new giant steps for the students and the environment,"

says Managing Director Einride Berg of SiÅs.

"Although funding is conditional upon grants from the Ministry, we are choosing

to sign a contract now to ensure progress and execution of the project. We hope

to have the funds in place so that Veidekke can start construction work in the

spring," Berg continues.

Altogether, the eight blocks will accommodate 795 bedsit units (number of

people), with a combination of family apartments, couple's apartments, large and

small collectives and single units where everything is in one room. The blocks

will range from three to seven storeys in height, and in addition several of

them will have basements or sub-floors with storage rooms, bicycle parking,

technical facilities and operations areas for SiÅs.

"Massive wood halves the CO2 emissions from materials compared to load bearing

structures made from steel and concrete. It is thus one of the best and fastest

ways we can reduce a building's greenhouse gas emissions. So far, Veidekke has

built 1,400 similar student residences at five locations in Norway, and are

looking forward to continuing here in Ås. We are humble in the face of the huge

task ahead of us, and would like to thank SiÅs for their confidence in us," says

district manager Rune Andersstuen of Veidekke.

Start of construction is conditional upon funding, but is planned for the spring

and is therefore not yet included in Veidekke's order backlog.

For press photos, see www.flickr.com/photos/veidekke, for more information,

contact:

District manager Rune Andersstuen, tel. +47 91 83 33 80,

rune.andersstuen@veidekke.no

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

helge.dieset@veidekke.no

Managing Director Einride Berg of SiÅs, tel. +47 90 51 20 47,

einride.berg@sias.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. Revenue is almost NOK 32 billion, and half of the 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.