Veidekke ASA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Veidekke ASA's Veidekke Entreprenor and Hochtief AG's Hochtief Solutions AG Sign NOK 1.568 Billion Contract
Veidekke ASA announced that its Veidekke Entreprenor and Hochtief AG's Hochtief Solutions AG have signed a contract with the E6 - Dovrebanen Joint Project for road and railway construction between Brohaug and Strandlykkja alongside Lake Mjosa. The value of the contract is NOK 1.568 billion excluding VAT. In order to ensure integrated planning and development of the road and railway alongside Lake Mjosa, the Norwegian Public Roads Administration and the National Rail Administration have established the E6-Dovrebanen Joint Project. A total of 21.5 kilometers of four lane motorway and 16.8 kilometers of dual track railway are to be built alongside Lake Mjosa. This has been divided into three subsections. The contract for the middle section will be jointly carried out by Veidekke (60%) and Hochtief (40%). Based on the agreement with Hochtief, accounting will most likely be according to the equity method. Work will commence in April. The new road will be completed in October 2014 and the new dual-track railway in the autumn of 2015.
Latest Developments for Veidekke ASA
- Veidekke ASA Announces New Accounting Policies
- Veidekke ASA's Mr. Arne Giske Succeeds Mr. Terje R. Venold as President and Chief Executive Officer
- Veidekke ASA's Veidekke Entreprenor AS Announces New Contract Provided Approval by Board of Directors of Nordea and Steen & Strom
- Veidekke ASA Announces Operation and Maintenance Contracts Worth NOK 1 Billion
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