Veidekke ASA

To build major hotel in Stockholm

Veidekkes Swedish subsidiary Arcona has been awarded the contract from AxFast to remodel the Torgvågen 7 block (the PUB building) at Hötorget in the centre of Stockholm. Among other things, the building will house Scandic Haymarket, which will be a major international hotel with 400 rooms, a conference ­centre, restaurants and shop premises. The contract is a turnkey contract valued at approx. SEK 230 million excluding VAT.

Around one year ago, property company AxFast bought the so-called PUB building, and since then Arcona has been involved in developing the property. Scandic's hotel will be remodelled and extended with 150 rooms, restaurants and cafés, and will be one of Scandic's most prominent flagship hotels at almost 16,500 square metres in size.

In recent years Arcona has built around 1,300 hotel rooms in Stockholm, including the Scandic Grand Central, HTL Hotel and Quality Hotel Globe.

"Following our successful collaboration on the recently opened HTL Hotel in Stockholm, we have chosen to extend our cooperation with Arcona for this hotel project as well. Arcona has been an important support right from the start with regard to the development of this property and quality assurance of the project," says property manager Jan Henriksson of AxFast.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:

Anders Rauge, project manager with Arcona, tel.: [phone], [e-mail]
Jan Henriksson, property manager with AxFast, tel.:[phone], [e-mail]
Helge Dieset, Communications Manager with Veidekke, tel.: [phone], [e-mail]

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt, crushed stone and gravel. The company is characterised by involvement and local knowledge. Turnover is NOK 21 billion (2013), and half of the 6,300 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Illustration from Koncept Stockholm

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Source: Veidekke ASA via Globenewswire

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