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2016-03-14

Veidekke ASA: To build for Hydro at Karmøy

Hydro has awarded Veidekke Entreprenør a contract to build a new electrolysis
hall, new rectifier building, new anode service building and various other
works for Hydro's new plant at Karmøy close to Haugesund. This is a pilot
project for more climate- and energy-effective production of aluminium, and
Veidekke has entered into two contracts with a combined value of around NOK
475 million excluding VAT.

Hydro's goal with the pilot project is to industrialize the world's most
climate- and energy-effective technology for aluminium electrolysis. The aim
is to reduce energy consumption by around 15 per cent per kilo of aluminium
produced in relation to the world average, and with the world's lowest CO2
emissions.

"The project is an important step towards climate-friendly energy-processing
industrial production. Veidekke Entreprenør is very pleased to contribute to
these developments, and we're very proud to have been selected as contractor.
Now we're looking forward to good cooperation and look forward to getting
started with the work," says district manager Ove Nedrebø of Veidekke in
Haugesund.

Among other things, Veidekke will build infrastructure and erect an
electrolysis hall, a rectifier building and a transformer building. An area
of 20,000 m2is to be developed. Approx 28,000 m3of concrete, 2,700 tons of
reinforcement and 3,500 tons of construction steel will be used. For Veidekke
the project will employ around 150 man years throughout the construction
period, mostly from Veidekke's department in Haugesund and from Veidekke's
mobile Special Projects construction section.

Work starts immediately and is to be completed in the second half of 2017.

For press photos, seewww.flickr.com/photos/veidekke,for more information,
contact:
District Manager Haugesund Ove Nedrebø, Veidekke Entreprenør AS, tel. +47 95
70 29 06,ove.nedrebo@veidekke.no

Head of Department Industry&Energy Erik Eiane, Veidekke Entreprenør AS, tel.
+47 91 00 85 98,erik.eiane@veidekke.no

Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33
22,helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development
companies. The company undertakes all types of building and construction
contracts, maintains roads and produces asphalt and aggregates. The company's
operations are characterised by involvement and local knowledge. Revenue is
NOK 24.5 billion (2015), and half of the 7,000 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.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Pressphoto Veidekke Hydro
http://hugin.info/172/R/1994037/734192.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Veidekke ASA via Globenewswire

HUG#1994037

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