Veidekke ASA: To reconstruct Lundbyleden in Gothenburg for approx. SEK 1.4 billion

Veidekke has signed an agreement with the Swedish Transport Administration for
the reconstruction of Lundbyleden, one of Gothenburg's most important and
busiest transport arteries. The project is a design and build contract with a
high level of collaboration, divided into two phases with a total contract value
of approximately SEK 1.4 billion.
The first phase of the assignment comprises approx. 13 months of planning with a
target price of about SEK 80-100 million, which will be included in orders for
Q1 2019. Phase 2 comprises approx. four years of production to a value of about
SEK 1 300 million. This will be included in orders at the call-off of phase 2,
which is planned for August 2020.

"We are proud to be able to contribute to improving infrastructure that
simplifies everyday life for people in western Sweden. This type of complex
project, which requires strong collaborative facilities, matches Veidekke's
collaborative working method to a tee. Getting in early in the project gives us
the opportunity to determine optimum production methods and create good project
results for all parties," says Jimmy Bengtsson, EVP/Country manager Veidekke
Sweden.

As one of Gothenburg's busiest and most vital transport routes, Lundbyleden is
part of the national road network and is therefore of national interest.
Currently, the route has at times very heavy traffic, and is perceived by many
as difficult to navigate. In order to increase capacity while providing
acceptable function and navigation facilities, it is therefore proposed to
design a new traffic interchange located between Leråkersmotet and
Brunnsbomotet. The planned Kvillemotet interchange will replace Brunnsbomotet,
which will be closed.

The project also includes the expansion of the railway Bohusbanan to double
track at Brunnsbo, in order to reduce the sensitivity to disturbances on both
Hamnbanan and Bohusbanan. This expansion also creates the opportunity for a
future commuter station, which would provide new possibilities for local
transport and enable a good connection to city traffic on Hisingen.

The "Lundbyleden" project comprises rebuilding and new construction of the
following infrastructure:

· Conversion of Lundbyleden between Brantingsmotet and Ringömotet; a
completely new traffic interchange with ramps and bridges will be built. The
total distance involved is approx. 1.5 km.
· Conversion of streets and roads within Backaplan
· Conversion of the Bohusbanan railway to double tracks at Brunnsbo, a total
of approx. 1.5 km where three bridges will be built to separate the railway from
other traffic.
· New construction of commuter train station - Brunnsbo.

Detailed plan DP0 is expected to take effect in the first half of 2019, which is
a prerequisite for the basis for decision regarding the road and railways plan.
The basis for decisions for the road and railways plan is expected to take
effect in the second half of 2019, which is a prerequisite for triggering the
option for phase 2.

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

Jimmy Bengtsson, EVP/Country manager Veidekke Sweden,
jimmy.bengtsson@veidekke.se, +46 070-537 91 10
Fredrik Indevall, Construction manager Veidekke Anläggning Sydväst,
Fredrik.Indevall@veidekke.se, +46 076-126 40 43
Kristina Andreasson, Communications Manager, Veidekke Sweden,
kristina.andreasson@veidekke.se, +46 072-516 99 63

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Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of building construction and civil
engineering contracts, develops residential projects, maintains roads, and
produces asphalt and aggregates. The company is known for its involvement and
local knowledge. Its annual turnover is NOK 36 billion, and half of its 8,600
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.