FOERSLOEV, Sweden, July 16, 2003 (PRIMEZONE) -- Peab's wholly owned subsidiary Netel has been commissioned to carry out the building of infrastructure in the GSM-R network in Norway. The work has been commissioned by Jernbaneverket (the equivalent of Railtrack in the UK) and the contract is worth in the region of NOK 650-700 million.
GSM-R is a joint European train radio system which coordinates safety matters and simplifies traffic monitoring in the European railway network.
Netel's commission includes the establishment of some 800 base stations around Norway and the installation of equipment to ensure proper signalling in approximately 300 tunnels. Thus the contract comprises the physical infrastructure of the project except for the actual GSM-R system, where the operational responsibility lies. A decision will be made as to which company is to be assigned this operational-related contract shortly.
Netel will begin work during the autumn of 2003, and the contract will take between 3 and 5 years to complete depending on the granting of permits.
"This is an important contract for Netel. Now we are able to boost our position as one the leading players in the area of telecommunications infrastructure construction," says Mr Erik Salling, MD of Netel.
For further information contact: Mr Erik Salling, MD Netel +46 733-37 50 00 Mr Gosta Sjostrom, information manager Peab +46 733-37 10 10
Previous press releases from Peab are available at www.peab.com
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http://www.waymaker.net/bitonline/2003/07/16/20030715BIT00370/wkr0002.pdf