YIT TO IMPLEMENT THE FIRST SECTION OF THE E18 HAMINA BYPASS ROAD IN FINLAND
The Finnish Transport Agency has made a procurement decision where the first construction contract of the E18 Hamina Bypass Road (Vt7) will be implemented by the Haminan kehä consortium founded by YIT Construction Ltd and Kesälahden Maansiirto Oy. The value of the construction contract is about EUR 120 million, and YIT’s share of this is about EUR 60 million. Construction of the road section will begin in December 2011, and it is scheduled for completion by 2015.
The agreement will be signed after expiry of the appeal period for the procurement decision, in about two weeks’ time.
The first phase of the E18 Hamina Bypass Road project includes the implementation of the 9-kilometre bypass road and the other associated road arrangements between Summa and Kolsila. The contract includes the 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 of 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.
On 21 November 2001, the Finnish Transport Agency made a procurement decision according to which the consortium formed by YIT, Destia, Meridiam Infrastructure Projects S.á.r.l and Mutual Pension Insurance Company Ilmarinen has been selected 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 announced this matter in a separate stock exchange release.
For further information, please contact:
Leo Brandt, Technical Director, YIT Construction Ltd, Infra Services, tel. +358 40 830 0508, firstname.lastname@example.org (for the Hamina Bypass Road)
Jaakko Kouvalainen, Development Director, YIT Construction Ltd, Infra Services, tel. +358 40 546 8073, email@example.com, (for the Koskenkylä–Kotka Motorway)
Hanna-Maria Heikkinen, Vice President, Investor Relations, YIT Corporation, tel. +358 20 433 2635, firstname.lastname@example.org
Senior Vice President, Corporate Communications
Distribution: Principal media, trade magazines, 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 about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com