Veidekke ASA: To overhaul E105 in Finnmark

Today Veidekke Entreprenør has signed a contract with Statens vegvesen to overhaul 5.5 kilometres of European road 105 south of Kirkenes in Sør-Varanger municipality. The value of the contract is NOK 269 million excluding VAT.

The stretch to be overhauled is between Bjørkheim and Elvenes in Sør-Varanger on what is the only classified road connection between Norway and Russia. Veidekke will upgrade 3.2 kilometres of the current route, while 2.2 kilometres will take a new line, including a 690 metre tunnel. Where the road follows the current line, there will be a walkway/cycle path parallel to the road. On the remainder of the stretch pedestrians and cyclists may use the current E105, which will be downgraded to a municipal road.

"This is a large and important project for us. All of our transport expertise will be put to task, and we will undertake large-scale earthworks. Such a contract is very important for Veidekke's operations in northern Norway, and for our many partners and suppliers," says District Manager Ronny Robertsen of Veidekke Entreprenør, District North.

Work will begin in September, and is scheduled for completion in September 2016.

For more information, please contact:

District Manager Ronny Robertsen, Veidekke, tel +47 97 98 30 84, ronny.robertsen@veidekke.no

Project Manager Kåre Ramberg of the Norwegian Public Roads Administration, tel. +47 97 64 81 13, kaare.ramberg@vegvesen.no

Communications Manager Helge Dieset of Veidekke, tel. +47 90 55 33 22, helge.dieset@veidekke.no

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel. The company is characterised by involvement and local knowledge. Turnover is NOK 21 billion (2013), and half of the 6,300 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.