CONSORTIUM BETWEEN YIT AND KESÄLAHDEN MAANSIIRTO SIGNED A CONTRACT WITH THE FINNISH TRANSPORT AGENCY TO IMPLEMENT THE FIRST PHASE OF THE E18 HAMINA BYPASS ROAD
The Haminan Kehä consortium, founded by YIT Construction Ltd and Kesälahden Maansiirto Oy, signed a contract with the Finnish Transport Agency to implement the first construction phase of the E18 Hamina Bypass Road (Vt7). The contract was signed on 20 December 2011. The value of the construction contract is approximately EUR 120 million, and YIT's share amounts to EUR 60 million. The construction of the road will commence in December 2011, and it is estimated to be complete by 2015.
The first phase of the E18 Hamina Bypass Road project includes implementation of the 9-kilometre bypass road and the other related road arrangements between Summa and Kolsila. The contract includes construction of the Husula Tunnel of just under 500 metres and the Kolsila Tunnel of just over 150 metres.
The total E18 project includes the EU-approved implementation of a road with motorway standard from Ring Road III all the way to Vaalimaa by 2015. The project complex consists of five phases: Ring Road III development phases I and II, Highway Vt 7 between Koskenkylä and Kotka, the Hamina Bypass Road for Highway Vt 7 and Highway Vt 7 between Hamina and Vaalimaa.
A consortium formed by YIT, Destia, Meridiam Infastructure Projects S.á.r.l and Ilmarinen Mutual Pension Insurance Company signed a service agreement with the Finnish Transport Agency to implement the E18 Koskenkylä–Kotka motorway. The 53-kilometre motorway will be implemented using the life cycle model, where the Finnish Transport Agency orders a package comprising the design, construction, maintenance and financing of the motorway from the consortium. YIT has announced this matter in a separate stock exchange release on 8 December 2011.
Leo Brandt, Technical Director, YIT Construction Ltd, Infra Services, tel. +358 40 830 0508, firstname.lastname@example.org
Seppo Huttunen, Managing Director, Kesälahden Maansiirto Oy, tel. +358 40 579 2640, email@example.com
Senior Vice President, Corporate Communications
Distribution: principal media, trade journals, www.yitgroup.com
YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT's revenue was approximately EUR 3.8 billion. The Group has approximately 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com