AS Nordecon and the Estonian Road Administration entered into agreement for the construction of the Väo traffic junction on the eastern border of Tallinn. A crossroads area will be built in the Väo multi-level traffic junction, where the Tallinn–Narva highway will be an extensive roundabout instead of the current intersection regulated with traffic lights. Traffic on the Peterburi tee in the direction of Tallinn–Narva and Narva–Tallinn will be transferred to the upper level by constructing 4 viaducts over the roundabout. In addition to the four-lane road sections, more than three kilometres of pedestrian and bicycle tracks, 4 pedestrian tunnels, and a parking lot for trucks and campers will be built. Modern traffic monitoring and control devices will be introduced at the intersection, such as traffic signs with changing information, information boards, etc. In addition to Peterburi tee, the construction will also affect the Tallinn ring road in the extent of 600 metres and the Rahu tee in the extent of 800 metres.
The total cost of the works is 20.6 million euros (including VAT), of which 85% is financed by the European Union Cohesion Fund. Construction work is planned to start in May this year and the deadline for the completion of the traffic junction is the end of 2021.
Nordecon (www.nordecon.com) 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, Sweden, Finland and Ukraine. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2019 was 234 million euros. Currently Nordecon Group employs close to 690 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.
Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: andri.hobemagi@nordecon.com
www.nordecon.com