Tallinn, Estonia, 2012-04-26 09:15 CEST (GLOBE NEWSWIRE) -- Nordecon AS and City Council of Tartu (city situated in southern part of Estonia) signed a contract for the design and construction works for the Tartu’s eastern roundabout’s first construction area. The works include the design and construction of 2+2 lane Ringtee Street. The length of the street with ramps is approximately 3 kilometers with 6 kilometers of adjacent light traffic roads. The length of the viaduct is 77 meters. Construction of multiple networks (collection of rainfall etc.), roadside lighting and reconstruction of power lines are included in contractual works.
The contract value without the reserve of unexpected works is 13,955,380 euros, excluding VAT. The works begin in spring 2012 and depending on the contractual commencement date last for 21 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 approximately 150 million euros. Currently Nordecon Group employs more than 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