YIT
Tieyhtiö Vaalimaa Oy, a project company owned by YIT and Meridiam, signed a service agreement with the Finnish Transport Agency regarding the E18 Hamina–Vaalimaa motorway project

YIT 

09.06.2015 11:15

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Helsinki, Finland, 2015-06-09 11:15 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION   
          STOCK EXHANGE RELEASE      JUNE 9, 2015 AT 12:15 P.M. 



Tieyhtiö Vaalimaa Oy, a project company owned by YIT and Meridiam, signed a
service agreement with the Finnish Transport Agency regarding the E18
Hamina-Vaalimaa motorway project 

Tieyhtiö Vaalimaa Oy, a project company established and owned by YIT and
Meridiam Infrastructure Finance II S.á.r.l, has signed a service agreement with
the Finnish Transport Agency regarding the implementation of the E18 motorway
between Hamina and Vaalimaa. The construction work will start immediately and
is expected to be completed in 2018. The total value of the service agreement
including financing is EUR 378 million, of which the value of the construction
and maintenance agreements worth approximately EUR 260 million will be recorded
in YIT's order backlog in June. 

The project is a public private partnership (PPP) based on internationally
accepted precedents, in which the Finnish Transport Agency will procure the
design, construction, maintenance and financing of the motorway from the
project company, Tieyhtiö Vaalimaa Oy. The ownership structure of Tieyhtiö
Vaalimaa Oy is such that Meridiam Infrastructure Finance II S.á.r.l holds 80%
of the company and YIT 20% of the company. The project company Tieyhtiö
Vaalimaa has signed the construction and maintenance agreements with YIT.
European Investment Bank, Nordic Investment Bank and Pohjola Bank Plc are the
banks financing the project. 

The project comprises approximately 32 kilometres of new motorway construction
and other related road alterations. The project will include a highway tunnel,
several bridges and noise barriers. Also included in the construction is a new
waiting area for truck traffic in Vaalimaa. After the completion of the
construction work, the project company will be responsible for the maintenance
of the motorway until 2034. The project will significantly improve the safety
and operability of the road, and high-quality environmental construction and
determined environmental consciousness played a major role in project planning. 

YIT has been participating successfully in previous E18 motorway construction
projects. Tieyhtiö Valtatie 7 Oy, owned by YIT, Destia, Meridiam and Ilmarinen,
carried out the E18 Koskenkylä-Kotka road section and it was completed ahead of
schedule in autumn 2014. In addition, the consortium comprised of YIT and
Kesälahden Maansiirto implemented successfully the E18 Hamina by-pass opened
for use in December 2014. 

Map of the E18 Hamina-Vaalimaa motorway: Link

For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50
390 6750, sanna.kaje@yit.fi 
Jouni Forsman, Senior Vice President, Infra Services business division, YIT
Construction Ltd, tel. +358 40 519 0129, jouni.forsman@yit.fi 



YIT CORPORATION



Sanna Kaje
Vice President, Investor Relations



Distribution: NASDAQ OMX, major media, www.yitgroup.com

YIT is a construction industry leader. We create better living environments in
Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over
100 years of experience have secured us a strong market position: we are the
largest housing developer and one of the largest business premises and
infrastructure developers in Finland, and the most significant foreign housing
and area developer in Russia. Our vision is to stay one step ahead - while
taking care of our customers, partners and personnel. We have nearly 6,000
employees in seven countries. In 2014, our revenue amounted to around EUR 1.8
billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com
News Source: NASDAQ OMX



09.06.2015 The DGAP Distribution Services include Regulatory Announcements,
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