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YIT has signed a final agreement on the construction of Jokeri Light Rail based on alliance contracting
YIT Corporation Investor News May 22, 2019, at 11:00 a.m.
YIT, as part of the Jokeri Light Rail alliance, has signed a final contract on the construction of Jokeri Light Rail. The contract covers railway infrastructure construction, construction of the depot area and connected projects. The total value of the contract is approximately EUR 470 million, with YIT’s share being about EUR 200 million. The contract will be entered in YIT’s order backlog for the second quarter.
Jokeri Light Rail will be implemented using alliance contracting. In the alliance model, the planning and design will be the responsibility of a consortium consisting of Ramboll Finland Ltd, Sitowise Oy and NRC Group Finland Oy, the contractor is a consortium comprised of YIT Finland Ltd and NRC Group Finland Oy and the clients are the City of Helsinki and the City of Espoo.
The construction of Jokeri Light Rail will begin gradually in June 2019 and the operation will begin in June 2024. Jokeri Light Rail is a light railway covering approximately 25 kilometres from Itäkeskus, Helsinki to Keilaniemi, Espoo via Pitäjänmäki and Leppävaara.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 566 6070, email@example.com
Harri Kailasalo, Executive Vice President, Infrastructure projects segment, YIT Corporation, tel. +358 40 040 1538, firstname.lastname@example.org
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, attractive and 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