YIT to upgrade Ring Road III between the Lahdenväylä and Porvoonväylä motorways

YIT has been awarded the contract to upgrade Ring Road III between the Lahdenväylä and Porvoonväylä motorways, based on the competitive tendering procedure organised by the Finnish Transport Agency. The total value of the contract is approximately EUR 42 million. Work will commence in January–February 2014 and it is estimated to be completed in 2016. The contract includes the upgrade of the existing road as well as the implementation of a traffic monitoring system, the construction of a multi-level interchanges and ramps leading from Länsimäentie in Vantaa onto Motorway 7 towards Helsinki.

The new traffic monitoring system will cover approximately 40 kilometres and combine the current telematics systems into one system on Highway E18. On the completion of the construction, all traffic lights between Lahdenväylä and Porvoonväylä will have been removed.

“Ring Road III is one of Finland’s most heavily used roads. The upgrade project will improve traffic flow and minimise congestion on a road where the volume of traffic is expected to increase dramatically. In conjunction with the upgrade, multi-level interchanges and ramps as well as third lanes will be added on the section between Lahdenväylä and Porvoonväylä,” says Antti Koski, Project Manager from the Finnish Transport Agency.

“We will be bringing together the extensive competences and technical equipment of our company in the Ring Road III project. We have accumulated solid expertise in similar, highly demanding road construction projects, such as sections of the E18 between Koskenkylä and Kotka, the Hamina bypass and the tunnel above Motorway 3 in Hämeenlinna,” says Risto Kanervo, Vice President from YIT.

“All these projects involved operating in the midst of heavy traffic, which poses extra challenges in terms of work and traffic safety. Relying on our experienced staff, we have been able to accept these contracts with great confidence,” Kanervo says.

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For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Risto Kanervo, Vice President, YIT Construction Ltd, Infra Services, tel. + 358 400 602 643 risto.kanervo@yit.fi

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2012, our revenue amounted to approximately EUR 2 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com.