Tallinn, Estonia, 2010-12-20 09:32 CET (GLOBE NEWSWIRE) -- A Nordecon International Group wholly owned subsidiary Nordecon Infra AS (leading partner) with partners Nordecon International AS and Ramboll Eesti AS signed a construction contract with Road Centre of the Southern Region of Estonia (a regional office of the Road Administration). The contract is for the rebuilding of railway crossings on road nr 39. A substantial part of the works is the design and building of Kaarepere viaduct. In total works cover road networks in length of approximately 5.2 kilometers. The project is co-financed by European Union structural funds.
The value of the contract with the client’s reserve is approximately 67.2 million kroons (4.3 million euros), excluding VAT.
Works begin in January 2011 and last for 12 months.
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
Head of Finance and Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com
www.nordecon.com