LEMMINKÄINEN CORPORATION PRESS RELEASE 16 MARCH 2012 AT 3 PM
LEMMINKÄINEN RENOVATES MAIN ARTERY IN RUSSIA
Lemminkäinen will participate in the renovation of the M4 road in Russia. The contract, ordered by Avtodor, a Russian state-owned enterprise, will be implemented in cooperation between Lemminkäinen and DSO1, the project's main contractor. Based on a total project value of approximately EUR 9 million, Lemminkäinen will account for 50 % of the project.
Scheduled to begin in April, the project will cover the milling and repaving of the road, as well as peripheral work on a 46-kilometre stretch near Moscow. Lemminkäinen will spread approximately 85,000 tons of asphalt. The contract is due for completion in October 2012.
"The renovation of the M4 road is a major continuation of our public-sector projects in the Moscow region, which we have been carrying out since 2009," comments Leo Kaariniemi, Regional Manager at Lemminkäinen.
As the M4 road is one of Russia's major arteries, significant investments are being made in its infrastructure. For instance, M4 connects Moscow to Sochi, the host of the 2014 Winter Olympic Games.
Regional Manager, Infrastructure Construction
International Operations, Lemminkäinen Corporation
Tel. 02071 53445
NASDAQ OMX Helsinki Ltd
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