YIT has signed a contract with Raahen Vesi to construct a water tower in Raahe, Finland and with HSY to construct one in Hiekkaharju, Vantaa, Finland. The total value of the contracts is over EUR 12 million. They will be recorded in the order backlog for the third quarter of the year and the profit and revenue are recognized in line with the progress in construction.
The water tower in Raahe will be over 40 metres high with capacity of 3,500 cubic metres. It is estimated to be completed in September 2018. In addition to the contract, YIT is responsible for the planning and the design for the project. The new water tower in Hiekkaharju will be 50 metres high with capacity of 8,500 cubic metres. It will be completed in spring 2019. In both cases, the old water tower will be demolished after the new tower is completed.
The projects offer logistic challenges due to height and location of the towers. The common factors for both projects are extremely demanding construction engineering solutions, such as a massive prestressed waterproof concrete structure constructed by using slipform method. These are 118thand 119thwater towers constructed by YIT.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, firstname.lastname@example.org
Anne Piiparinen, Vice President, Construction Engineering Services, YIT Construction Ltd., tel. +358 40 823 2808, email@example.com
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com