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YIT Corporation Investor News June 27, 2018 at 1:00 P.M.
YIT and Sunnfjord Energi AS, a Norwegian power company, have signed an agreement on building a new hydropower plant in the Sogn and Fjordane County in Western Norway. The value of the contract is EUR 32 million. The work will begin in July 2018, and it will be completed in December 2020.
The new power plant “Jølstra” will be located close to the city of Førde. The contract covers the construction of a power plant, including water intake, power station and approximately 7 kilometres of tunnel.
“We have a strong position in infrastructure construction solutions and services in the Nordic and Baltic countries. This contract is a good example of projects where our special expertise in energy sector construction plays a crucial role,” says Harri Kailasalo, Executive Vice President of YIT’s Infrastructure projects segment.
The company has earlier built a similar hydro power plant in Norway, and has also built power plants and been involved in power plant projects with foundation engineering or renovation work in Sweden and in Finland.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi
Harri Kailasalo, Executive Vice President, Infrastructure projects segment, YIT Corporation, tel. +358 400 401 538, harri.kailasalo@yit.fi
YIT CORPORATION
Hanna Jaakkola
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our pro forma revenue totalled more than EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com. www.yitgroup.com
