OOO Eurocon Ukraine, a subsidiary of Nordecon AS registered in the Republic of Ukraine and OOO Prosperitatis signed a framework agreement on construction of housing district and the accompanied social infrastructure in Brovary town, Kiev region on the land plot of 80 hectares. The framework agreement sets the prerequisites for the building of 500,000 sqm of housing space with the infrastructure and parking facilities, as well as kindergartens and a school depending on the market conditions during initially planned eight year period.
The framework agreement works are divided into twenty five stages and the construction and monetary volume as well as duration of works of each stage will be agreed in the separate agreements. Eurocon Ukraine will perform the works with the so-called project management method with open invoices. Every work phase will commence only after the receipt of order letter and prepayment from the client. The agreed general contracting fee will be added to the open invoice amounts.
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 2014 was 161 million euros and net profit 2.3 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.
Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
Email: andri.hobemagi@nordecon.com
www.nordecon.com