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- Press release
YIT and Posiva sign contract for stage two in the excavation of Posiva’s final disposal facility
YIT Corporation Press release, August 28, 2019, at 2:00 p.m.
YIT and Posiva Ltd have signed a contract for the excavation work required for completing the second stage of Posiva’s final disposal facility construction. The value of the excavation contract is approximately EUR 17 million, which will be recorded in the company’s order backlog for the third quarter of the year. Set to begin in late 2019, the contract’s duration is estimated at approximately two and a half years.
The contract includes the stage two excavation of two central tunnels and five final disposal tunnels for Posiva’s final disposal facility in Olkiluoto, an island located in the Finnish municipality of Eurajoki. The new tunnels will form a key part of the facility’s final disposal area and, due to their exceptionally tight quality requirements, they will be the first of their kind in the world. Building such demanding tunnel structures requires exceptional professional expertise.
“We have started the unique EKA project, which in addition to the extraction of the final disposal facility, implements the encapsulation plant in its entirety, and the systems necessary for starting the final disposal of the facilities already quarried”, says Janne Mokka, CEO of Posiva.
YIT has already successfully completed two excavation contracts for Posiva.
“During our previous contracts, our cooperation with Posiva was very smooth and we are very pleased to be able to continue this cooperation through such a challenging new contract. YIT has a lot of experience in demanding tunnel construction and for us, this new contract represents an interesting opportunity to leverage the strong competence we have,” says Aleksi Laine, SVP, Rock and Special Engineering at YIT.
For further information, please contact:
Pirita Tiusanen, Communications Manager, YIT Corporation, tel. +358 44 240 9822, firstname.lastname@example.org
Aleksi Laine, Senior Vice President, Rock and Special Engineering, YIT Corporation, tel. +358 40 745 6536, email@example.com
Juha Riihimäki, Construction Manager, Posiva Ltd, tel. +358 2 8381 5300, firstname.lastname@example.org
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 specialized in demanding infrastructure construction and paving. Together with our customers, our nearly 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 restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com