• Investor news
  • 20.10.2020 08:00 CET

YIT is building phase two to the Tampere tram network with the Alliance

Tampere Ratikka -Tampereen Kaupunki Sepankatu

Tampere Ratikka -Tampereen Kaupunki Sepankatu

Tampere Tramway Ltd and the City of Tampere have appointed alliance of YIT, NRC, Sweco and AFRY to a contract for second phase of the Tampere tram network. The project is an extension for the ongoing alliance contract.

The Alliance parties will jointly design and build the second phase that will be 6,6 kilometers and will involve rail services such as track, road construction and groundwork. The work will commence in 2020 and the project is scheduled for completion in the end of the year 2024.

“The decision to continue the tramway strengthens sustainable development of public transportation in Tampere. The Tampere Tramway supports the growth and urban development in Tampere. We are very pleased to be able to cooperate with the same experienced and competent alliance partners in the second phase,” advises Pekka Sirviö, Managing Director of Tampere Tramway Ltd.

The full value of the project is over 112 million, from which YIT’s share is approximately EUR 62 million. The phase two of the Tampere tram network consist of two parts, of which the first part’s YIT’s share is approximately EUR 25 million and will be entered in the order book in the fourth quarter of the year after the two week long appeal period of the project has been terminated. The second part’s YIT’s share is approximately EUR 37 million and it will be entered in order book approximately by 2022 when the required permit for water fill is lawful.

For further information, please contact:

Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi

Harri Kailasalo, Executive Vice President, Infrastructure projects segment, YIT Corporation, tel. +358 (0)400 401 538, harri.kailasalo@yit.fi

 

YIT CORPORATION

Tommi Järvenpää
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 and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Photo: City of Tampere