LEMMINKÄINEN CORPORATION INVESTOR NEWS 5 SEPTEMBER 2014 AT 1:00 P.M.
LEMMINKÄINEN TO BUILD A SCHOOL OF TIMBER IN PUDASJÄRVI WITH THE PPP MODEL
Lemminkäinen will build a school campus of timber in Pudasjärvi, in Northern Finland, using the PPP model. The city council made the funding and procurement decision concerning the project at the end of 2013 but the project start was delayed due to a planning claim. The construction is now in progress, and the building will be taken into use in the summer of 2016. The total value of the project is over EUR 40 million. The share of the 2014–2016 investment phase will be approximately EUR 23 million, the majority of which Lemminkäinen will recognise in its Q3/2014 order book.
The project includes planning and executing the construction of a timber school in the Poropudas region in Pudasjärvi. Lemminkäinen will also be liable for the maintenance, upkeep, user services and basic renovation investments during the service contract for the service period of 25 years.
The school will accommodate around 800 students. It comprises four buildings that house the primary and secondary schools, high school, adult education centre and school gym. The total area is approximately 9,700 floor square metres. The timber is supplied by the local subcontractor Kontiotuote.
"The requirements of different learning facilities lead the planning and execution of school premises. In addition, clear targets for the quality of upkeep and maintenance have been set. We have good experience from public-private partnership projects in the field of education, in Kuopio and Oulu. The campus is a good way for us to continue this kind of work. Ensuring the best conditions for learning and teaching is our top priority, starting from the planning stage," says Lemminkäinen's President & CEO Casimir Lindholm.
"From the point of view of the city of Pudasjärvi, it was important to find the best partners for the PPP project with the tendering process. Lemminkäinen and Kontiotuote managed to create a plan that matches all our targets," Eero Talala, acting Technical Director at Pudasjärvi comments. "The indoor air quality problems that have pestered the schools for a long time are about to be solved by this project."
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Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 8,200 experts. In 2012, our net sales were about EUR 2.3 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com