Veidekke to upgrade the Svartevann dam

The Sira-Kvina power company has awarded Veidekke Entreprenør AS the contract to
upgrade its largest dam, Svartevann dam, on the border between Rogaland and
Vest-Agder counties. The value of the contract is NOK 100 million excluding VAT.


The Svartevatn dam is to be upgraded such that it satisfies new, more stringent
regulation requirements. The upgrade primarily comprises reinforcing the
downstream slope with an additional 0.5 million m(3) of rock, as well as raising
the crest a couple of metres. In addition, existing minor structures are to be
remodeled. Focus will be on quarrying operations during the autumn before the
snow comes. Construction work at the dam will start in the spring and continue
for three seasons.

Work has already started, and completion is planned for 2014.


For more information please contact:
Project Manager Halvard Leren, Veidekke Entreprenør AS, tel. +
47 93 40 86 30,halvard.leren@veidekke.no
Communications Manager Helge Dieset, tel. +47 21 05 77 91 /
+47 90 55 33 22,helge.dieset@veidekke.no


Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a
turnover of NOK 16.3 billion (2010). Activities include building and
construction projects, residential developments, asphalt plants, gravel and
aggregates and road maintenance. Our values are professional, honest,
enthusiastic and pioneering. Our goals for health, safety and the environment,
HSE, have equal status with our financial goals.  Veidekke is characterized by a
decentralized organizational model with a strong corporate culture and a high
degree of employee involvement. Over half the employees are co-owners, holding
almost 20% of Veidekke's shares between them. The company is listed on the Oslo
Stock Exchange and has never declared a loss 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.



[HUG#1549855]