LEMMINKÄINEN CORPORATION INVESTOR NEWS 5 JULY 2017 AT 2:00 P.M.
LEMMINKÄINEN TO RECONSTRUCT ROADS IN THE BALTIC COUNTRIES
Lemminkäinen and Latvian State roads have signed an agreement on reconstruction of the regional road P62 (Krāslava–Preiļi–Madona) in southeastern Latvia. The work will begin in July 2017 and it will be completed in November 2018. The value of the contract is EUR 14.4 million. The contract includes reconstruction of 13.3 kilometres of road, including earthworks, sheet piling, bridge reconstruction and paving.
In Lithuania, Lemminkäinen and the municipality of Vilnius have signed a 3-year agreement on pavement repair and maintenance works in the northern and western parts of Vilnius. The work began in March 2017 and will continue to spring 2020. Additionally, for the Lithuanian road administration, Lemminkäinen is currently reconstructing the Mazeikiai-Plunge-Taurage section of Road 164 in the western part of Lithuania. The work will be completed in spring 2018. The contract includes, in addition to reconstructing the national road, reconstruction of four bridges as well as reconstruction of rainwater engineering networks and electrical engineering networks. The value of these two contracts in total is EUR 13.9 million.
In Estonia, Lemminkäinen has signed agreements with Tallinna Sadam AS (Port of Tallinn) and Estonian Road Administration. In the southern part of Old City Harbour (D-Terminal area) in Tallinn, Lemminkäinen is building new checkpoints and and lining-up areas for vehicles. The new vehicle checkpoints will include Smart Port devices for automatic check-in and line management system for vehicles with electronic information boards, registration plate detection cameras, traffic lights, gates, weighing machines, control boxes, among others. The entrance area will be connected with the future extension of Pikksilma Str and with currently existing Petrooleumi Str. The work will be completed in January 2018. For the Estonian State roads, Lemminkäinen is currently repairing roads in 11 different areas in Estonia. The work will be completed in October 2017. The contract includes a variety of road construction works including casting 550,000 sqm heat-based asphalt and marking 18,400 sqm of roads. The value of these two contracts in total is EUR 10.3 million.
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Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and 4,700 professionals we employ, we build a sustainable society. In 2016, our net sales were EUR 1.7 billion. Lemminkäinen Corporation’s share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com