Tallinn, Estonia, 2012-02-28 08:45 CET (GLOBE NEWSWIRE) -- Nordecon AS with joint partner EG Ehitus AS and AS ELVESO signed a contract for the construction of water-, sewage and heating network in Assaku, Jüri and Vaida hamlets. In total the length of the networks is 10, 6 and 1 kilometers respectively. In addition the waste water treatment plant in Assaku will be demolished and new water treatment center with 3 wells built.
The value of the contract (without the reserve for unexpected works) is approximately 4.88 million euros, excluding VAT. The contract revenue between joint partners is divided 90 and 10 per cent respectively.
The works begin in March 2012 and last for 11 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 (unaudited) of the Group in 2011 was 150 million euros. Currently Nordecon Group employs nearly 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