Veidekke Entreprenør AS has today signed a contract with the Norwegian Public Roads Administration to build a new stretch of the E 39 between Torvund and Teigen in Høyanger. This stretch is 5.5 km long and includes a new 2.6 kilometre tunnel. When complete, the new road will save motorists almost a kilometre compared with the present route. The value of the contract is NOK 211 million excluding VAT.
The E39 is an important transport route along the coast of western Norway. The present road is of poor standard: often narrow and with steep slopes and a lack of overtaking opportunities. Veidekke will now build 5.5 kilometres of new main road with an 80 kph speed limit from Indre Torvund to Teigen.
The contract involves building 2.9 kilometres of new surface road, the 2.5 kilometre Norevik tunnel, 910 metres of access road, 1,160 metres of private road and 250 metres of pedestrian and cycle path. There are also four small bridges/culverts and two tunnel entrances.
Work commences as early as August and is scheduled for completion on 30 August 2012. At peak manning, Veidekke will have 50 people working on the project, including sub-contractors.
For more information about the project:
http://www.vegvesen.no/Vegprosjekter/E39TorvundTeigen
For more information please contact:
District Manager Kåre Strand, Veidekke Entreprenør AS, tel. +47 90 08 80 73, kare.strand@veidekke.no
Project Manager Stein Bjøru, Veidekke Entreprenør AS, tel- +47 95 02 05 60, stein.bjoru@veidekke.no
Project Manager Odd Erik Haugen, Norwegian Public Roads Administration, tel. +47 95 04 60 57, ohauge@vegvesen.no
Construction Manager Sverre Måge, Norwegian Public Roads Administration, tel. +47 95 94 37 70, sverre.maage@vegvesen.no
Veidekke is one of Scandinavia's largest contractors with 6,000 employees and a turnover of NOK 16 billion. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, road maintenance and recycling. Our values are professional, honest, enthusiastic and pioneering. Our goals for health and safety and the environment are as important to us as our financial goals. Veidekke is characterised by a decentralised organisational model with a strong company culture and a high degree of employee involvement. Over half the employees are co-owners, holding 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)