Aspelin Ramm has awarded Veidekke Entreprenør a contract to build Nordre kvartal (Northern Quarter) at Vulkan in Oslo. Covering 29,000 sqm in all, the turnkey project is valued at NOK 458 million excluding VAT.

The project consists of a garage facility in the four lower floors, 5,000 square metres of commercial space in the form of offices and shops facing Maridalsveien, and 117 apartments topped by roof terraces. The building will be constructed from prefabricated steel and concrete elements where the base toward Vulkan and the facade facing Maridalsveien will be clad with brick, while the housing units' facade on the top will be light to help reflect daylight down to Vulkan.

Vulkan is the name of the old industrial area north of Møllerveien in Oslo between Maridalsveien and Aker River. The former steel industry centre is undergoing a complete redevelopment featuring new business and cultural venues as well as housing. With the Nordre kvartal project the Vulkan redevelopment will be complete.

Work starts in May 2011 and is to be completed by Christmas 2013.

For more information please contact:
District Manager Hans Olav Sørlie, Veidekke Entreprenør AS, tel. +47 21 05 75 83, hans-olav.sorlie@veidekke.no
Project Manager Rune Fossland, Veidekke Entreprenør AS, tel. +47 901 66 480, rune.fossland@veidekke.no
Communications Manager Helge Dieset, Veidekke, tel. + 47 21 05 77 91 / 90 55 33 22, helge.dieset@veidekke.no
Marketing Director Sverre Landmark, Aspelin Ramm, tel. +47 91 83 12 30, sverre.landmark@aspelinramm.no

Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a turnover of NOK 16.3 billion (2010). Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals. Veidekke is characterized by a decentralized organizational model with a strong corporate culture and a high degree of employee involvement. Over half the employees are co-owners, holding almost 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.



This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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