Tallinn, Estonia, 2014-06-30 08:30 CEST (GLOBE NEWSWIRE) -- Nordecon AS and Riigi Kinnisvara AS (a government held company for real estate) signed a contract for the reconstruction works of a school building in Võru town Seminari 1 St. After the works the building will be occupied by Võru state gymnasium. The existing building will be reconstructed and a new adjacent premises will be built. The school building net usable area is 3,219 square meters of which more than half is taken up by the new premises.
The value of the contract (without the reserve for unexpected works of 3 per cent) is approximately 3.26 million euros (excluding VAT). The construction begins in July and lasts for 12 months.
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 consolidated revenue of the Group in 2013 was 174 million euros and net profit 4.6 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
