Veidekke signs contract with Norwegian Public Roads Administration

TIN news:          Scandinavian contractor and property developer Veidekke Entreprenør has signed a NKr206m ($27m) contract with the Norwegian Public Roads Administration to protect secondary road 7 Lussandberget in Granvin from landslides.
 
According to the company, the contract value excludes VAT.
 
As part of the contract, a 2.4km stretch will be secured with 400m-long open-air stretches at each end and a 1.6km tunnel in the middle.
"The new contract is the third in a row for the company in recent years to secure road sections along the Hardanger fjord."
 
Ensuring practicability for motorists on a landslide-prone stretch, the road project will also remove a bottleneck on the leg between Øystese and the Kvanndal ferry quay.
 
Veidekke noted that the new contract is the third in a row for the company in recent years to secure road sections along the Hardanger fjord.
 

Set to begin immediately, work is slated foar completion in December 2016.

 
For the third quarter of 2014, Veidekke recorded a profit before tax of NKr370m ($49m), while revenue amounted to NKr6bn ($787m), Nasdaq reported. The revenue during Q3 stood at NKr5.9bn ($774m), with a profit before tax of NKr370m ($49m), which corresponds to a profit margin of 6.2%. The combined order backlog totals NKr16.9bn ($2.2bn).
 
Veidekkes undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel.