NCC to renovate three schools in Finland for SEK 440 million
10/3/2011 7:30 AM EST
NCC Construction Finland has signed an agreement with the city of Espoo for the renovation of three schools in Espoo and to assume responsibility for the maintenance of the schools and property services for 25 years. This is a “lifecycle project” that is valued at a total of approximately SEK 735 million, of which renovation services account for about SEK 440 million, and will be registered in the third quarter of 2011.
The value of the maintenance and property services is approximately SEK 295 million and will be registered continuously over 25 years.
The planning of the renovation of the schools will commence immediately. Construction work will be staggered with the first renovations beginning in summer 2012 and the final work being completed in 2015.
The criteria assessed in the tendering process included implementation of similar lifecycle projects, the quality of the maintenance plan and the references linked to the services over the operating period.
NCC has the most extensive experience of lifecycle projects in Finland and implemented the first Public Private Partnership project in the property industry, a school with swimming pool in Espoo.
For further information, please contact:
Vesa Ahlroos, Regional Director Renovation, NCC Construction Finland, +358 50 366 66669
Magnus Jonsson, External Communication and Media Relations Manager, NCC AB, +46 (0)8 585 522 46
NCC’s media line: +46 (0)8 585 519 00, E-mail
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on October 3 2011, at 1.30 p.m.
All NCC’s press releases are available at www.ncc.se/press
NCC is one of the leading construction and property development companies in the Nordic region. In 2010, NCC had sales of nearly SEK 49 billion, with 17,000 employees. NCC Construction Finland builds residences, offices, roads, civil engineering and other infrastructure in Finland.