Tallinn, Estonia, 2014-02-25 08:14 CET (GLOBE NEWSWIRE) -- Nordecon AS and Estonia Spa Hotels AS have signed an agreement on the design and construction works for the annex of Estonia Spa hotel and spa complex in Pärnu (town situated in southwestern part of Estonia). The interior design of the hotel will be renewed and the number of hotel rooms will rise to 106. The annex of the spa will include a conference and water center.
The value of the contract is approximately 8.3 million euros (excluding VAT). The construction begins after the completion of design works in August 2014 and ends in June 2015.
Nordecon is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The unaudited consolidated revenue of the Group in 2013 was 174 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.
Raimo Talviste
Nordecon AS
Head of Finance and Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com
www.nordecon.com
