08.09.2015 Investor news

Caverion provides electricity solutions worth over EUR 35 million to a new railway project in Norway

Caverion has signed a contract with Jernbaneverket for delivering electricity solutions for Farriseidet-Porsgrunn railway project in Southern Norway. The value of the contract is approximately EUR 35 million. Caverion is responsible for project management and project execution.

Farriseidet-Porsgrunn railway is a new, approximately 23 kilometers long railway route with double lines between the towns of Larvik and Porsgrunn. The line includes seven tunnels with a total length of 15 km. In tracks and tunnels the scope of electricity works are mainly heating and exhaust fans, lighting and sub-distributions and emergency lighting.

Final design of the project will take place during autumn 2015. Installations are scheduled to start in January 2016 and to be completed in June 2018. Train traffic on the new line will start in autumn 2018 and have speed of up to 250 km / h. Farriseidet-Porsgrunn project completes the general upgrading of Vestfold line, which is one of the main railway lines in Norway.

“This is one of the biggest contracts in the history of Caverion Norway. The complexity of the project will bring us work for many years to come. We are very excited to be part of both the management and execution of this major project and to be able to contribute to reliable and safe infrastructure for urban communities in Norway,” says Knut Gaaserud, Executive Vice President & CEO, Caverion Division Norway.

“This is a very important project, which brings several benefits to the increasingly urbanised society, including reduced travel time and increased safety - both for passengers and for those who live near the railroad. We are removing level crossings, outdated tunnels and avalanche stretches. Other benefits include improved capacity, comfort and punctuality for passengers,” says Stine Ilebrekke Undrum, Project Director from Jernbaneverket.

Jernbaneverket is the Norwegian government’s agency for railway services, and is part of Caverion’s public sector customer segment.

For further information, please contact: Knut Gaaserud, Executive Vice President & CEO, Caverion Division Norway, +47 918 15 318, knut.gaaserud@caverion.no

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