Tallinn, Estonia, 2010-12-23 13:00 CET (GLOBE NEWSWIRE) -- Nordecon International AS and its wholly owned subsidiary Nordecon Ehitus AS (leading partner) signed a construction contract with Riigi Kinnisvara AS (operator of state’s real estate property) to continue works on Koidula border station premises. The contract with the previous contractor was terminated by Riigi Kinnisvara AS prior to the completion of works. Nordecon signed a contract based on the newly issued public tender. Works include completing the border station building, customs’ warehouse and maintenance center. Included is also finishing of connecting roads between buildings, pavement of sites and telecommunications.
The value of the contract is approximately 73.1 million kroons (4.7 million euros), excluding VAT.
Works begin in January 2011 and will be finished during summer of 2011.
Nordecon International 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 International AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 15 subsidiaries in the Group. The consolidated revenue of the Group in 2009 was 2.4 billion kroons (155 million euros). Currently Nordecon International Group employs nearly 750 people. Since 18 May 2006, the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.
1 euro = 15.6466 kroons
Raimo Talviste
Nordecon International AS
Finants- ja investorsuhete juht
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com
www.nordecon.com