Skanska to build new Vækerø office block

June 29, 2004, 09:00 CEST

Skanska Norge AS was on Monday awarded the total contract for the construction of Hydro's new office block at Vækerø. The contract is valued at approximately NOK 215 million, design work included.

The construction project will start in September and the new building is planned for completion around the turn of the year 2005/2006.

In addition, Hydro is planning a refurbishment of the current premises, so that all Hydro emplyees in the Oslo area can be gathered together at the company's Vækerø.headquarters

The contract with Skanska was signed at Vækerø Mansion on Monday.

"Hydros Pension Fund has previously had ownership of two similar, major construction projects: Hydro's offices in Bygdøy Allé 2 and at Sandsli in Bergen. We are now again about to embark upon a project that will be comleted at the right time and within its cost limit," said Per Arne Myklebost on signing of the contract. Myklebost is chairman of Hydro's Pension Fund.

Skanska's managing director, Petter Eiken, expressed thanks for being given the job:

"I hope that our work on Ormen Lange has demonstrated what we stand for and what are capable of, since we have now been awarded a major new Hydro contract," he said.

In the course of 2007 Hydro's activities in the Oslo area will be gathered together in a modern, flexible office complex at Vækerø.

"A common location will streamline the working relationships between different units and impact positively on communication and efficiency in the organization. It will also help to bring costs down," says Alexandra Bech Gjørv, executive vice president responsible for leadership and culture.