LEMMINKÄINEN CORPORATION PRESS RELEASE 9 JULY 2012 AT 1 PM
LEMMINKÄINEN CONSORTIUM SIGNS ALLIANCE AGREEMENT FOR THE FIRST STAGE OF THE VT12 TAMPERE TUNNEL PROJECT
Lemminkäinen consortium, the City of Tampere and Finnish Transport Agency signed an alliance agreement for the first stage of the VT12 Tampere tunnel project on 9 July 2012. An order authorisation of EUR 185 million has been granted for the contract. The consortium is formed by Lemminkäinen, A-Insinöörit Suunnittelu Oy and Saanio & Riekkola Oy.
The project will be divided into development and implementation phases. During the development phase, which will last around a year, an implementation plan and target costs and other goals will be drawn up for the project's execution. The implementation phase, construction, is scheduled to begin in the autumn 2013 and will be based on a separate contract.
The contract will be executed under the new alliance model. Such a model is based on a joint agreement between the parties on the target costs and other key objectives, based on joint risk provision. During the project, the Finnish Transport Agency will act as the customer's representative.
Connecting Tampereen Rantaväylä to a tunnel running between Santalahti and Naistenlahti promotes the development of Tampere city centre, smooth running of traffic on VT12 Tampereen Rantaväylä and better control over the negative impacts of traffic.
Director, Infrastructure Construction
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Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction, technical building services and international operations. Net sales in 2011 were about EUR 2.3 billion, of which international operations accounted for roughly one third. The Group employs an average of 8,400 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com