Oslo, Norway – Veidekke Entreprenør AS has signed a contract with the National Rail Administration to undertake construction work at Lysaker (Contract LS 01 Dagsone Lysaker) as part of the development of the new double track railway between Skøyen and Asker. The contract price is approximately NOK 375 million, VAT excluded.

This contract includes approximately 700 m of tunnelling from Lysaker in the direction of Sandvika. The work consists of rock blasting, securing and other structural work inside the tunnel. Also included in the contract is work above ground, comprising a 200 m buried concrete tunnel and approximately 500 m of supporting walls.

At the most about 70 of Veidekke’s own workforce will be involved in the project. Construction starts on 4 June 2007 and is scheduled for completion by 1 June 2011.

VEIDEKKE ASA
Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,350 employees and an annual turnover of NOK 16.4 billion (2006). Veidekke is listed on the Oslo Stock Exchange. It has a wide group of shareholders and 14% of the shares are held by the company’s employees. The company’s activities cover a large range of building and construction contracts, development of housing and commercial projects for private and public customers, asphalt operations and road maintenance, and collection and recycling of waste.