YIT, DESTIA, MERIDIAM AND ILMARINEN CONSORTIUM TO CARRY OUT THE E18 MOTORWAY BETWEEN KOSKENKYLÄ AND KOTKA ACCORDING TO THE ACQUISITION DECISION MADE BY THE FINNISH TRANSPORT AGENCY

YIT, DESTIA, MERIDIAM AND ILMARINEN CONSORTIUM TO CARRY OUT THE E18 MOTORWAY BETWEEN KOSKENKYLÄ AND KOTKA ACCORDING TO THE ACQUISITION DECISION MADE BY THE FINNISH TRANSPORT AGENCY

The Finnish Transport Agency has made an acquisition decision whereby a consortium formed by YIT, Destia, Meridiam Infrastructure Projects S.á.r.l and Ilmarinen Mutual Pension Insurance Company will carry out the E18 motorway between Koskenkylä and Kotka. A service agreement will be signed after the appeal period of the acquisition decision, in approximately two weeks, provided that the final funding arrangements of the project are realised. To confirm the motorway completion time, the Finnish Transport Agency and the consortium have agreed that preparatory construction will commence before the final agreement is signed. The motorway is estimated to be fully completed in 2015. The Finnish Transport Agency has been granted a contract authorisation of EUR 650 million to carry out the project.

The motorway between Koskenkylä and Kotka will be carried out using the life cycle model, whereby the Finnish Transport Agency orders an entity consisting of the design, construction, maintenance and financing of the motorway from the consortium based on the aforementioned contract authorisation. A working consortium that consists of YIT and Destia is responsible for carrying out the project. The goal is to partially open the approximately 53-kilometre motorway for traffic in 2013, and the full opening will take place during 2014. After the completion of the road section, the consortium will be responsible for the maintenance and financing of the road until 2026.

In Finland, the life cycle model has been utilised previously in the implementation of the Lahti motorway and the motorway between Muurla and Lohja.

For additional information, please contact: 

Jaakko Kouvalainen, Development Manager, YIT Rakennus Oy, tel. +358 40 546 8073, jaakko.kouvalainen@yit.fi
Hanna-Maria Heikkinen, Vice President, Investor Relations, +358 20 433 2635, hanna-maria.heikkinen@yit.fi

YIT CORPORATION

Hanna-Maria Heikkinen
Vice President, Investor Relations

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT's turnover was EUR 3.8 billion. The Group has approximately 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com.