• Investor news
  • 03.09.2018 12:30 CET

YIT and Are to build the Kaitaa metro station in Espoo, Finland

YIT Corporation Investor News September 3, 2018 at 1:30 p.m.

Alustava havainne Kaitaan asemalaituri PES-Arkkitehdit

Alustava havainne Kaitaan asemalaituri PES-Arkkitehdit

A consortium formed by YIT and Are and Länsimetro Oy have signed an agreement on the construction of the Kaitaa station on the West Metro line in Espoo, Finland. The value of the contract is approximately EUR 47 million, whereof YIT’s share is approximately EUR 33 million. The contract includes constructing the Kaitaa metro station, a service tunnel with connecting tunnels, an underground air-raid shelter as well as the Kaitaantie entrance, the Iivisniemi technical shaft and a reservation for the Iivisniemenkallio entrance, where a technical shaft will be built first. The construction will begin in September 2018 and is scheduled for completion in May 2022. The project is booked in YIT’s order backlog in the third quarter of 2018.

The West Metro is extending west from Matinkylä to Kivenlahti, Espoo. A rail line comprising seven kilometres and five new stations are being built: Finnoo, Kaitaa, Soukka, Espoonlahti and Kivenlahti.

YIT is the biggest single constructor of the West Metro. For Phase 1 of the West Metro, YIT has built the Aalto University, Tapiola, Niittykumpu and Matinkylä stations as well as done excavation work for tunnels and stations in Ruoholahti, Lauttasaari, Koivusaari, Keilaniemi, Otaniemi, Urheilupuisto, Niittykumpu and Matinkylä. For Phase 2, YIT has done excavation and enforcement work for the Finnoo metro station and is currently constructing the Soukka metro station, scheduled for completion in February 2022.

”Our professional personnel, strong experience in rock construction and good co-operation with Are have contributed to the result we were hoping for in the competitive tendering for the West Metro. We are extremely happy for that in the second phase of the West Metro, we will be able to construct the Kaitaa station as a project management contract, in addition to the Soukka station. The collaborative way of working and close co-operation with the client form an excellent basis for a successful project,” comments Anne Piiparinen, Senior Vice President of Industrial and structural engineering of YIT’s Infrastructure projects segment.

For further information, please contact: 

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi

Harri Kailasalo, Executive Vice President, Infrastructure projects, YIT Corporation, tel. +358 400 401 538, harri.kailasalo@yit.fi

YIT CORPORATION

Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving.  Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com