02.02.2015 - Company announcement

Conditional contract in Nuuk, Greenland

Aarsleff has entered into an agreement with Sikuki Nuuk Harbour A/S about the establishment of a new container terminal in Nuuk, Greenland. The first phase will comprise initial planning and preparations. The final contract is expected to be signed in a couple of months.

The project will be carried out as a design and build contract and has a value of DKK 402 million. The work in Nuuk will commence at the beginning of March and is expected to be completed in November 2016.

The contract will cover all work for the construction of the 50,000-square metre container terminal. The work comprises blasting of 300,000 cubic metres of hard rock within the new harbour area, construction of a 300-metre-long quay, establishment of a yard for containers and dredging of the new harbour basin. The contract also includes construction of administration buildings, workshop building and warehouse, estimated at a total of 4,700 square metres.

A substantial share of local Greenlandic workers will be involved in the civil engineering work, e.g. skilled workers, unskilled workers as well as apprentices and trainees.

During the past four years, Aarsleff’s activities in Greenland have increased. The work comprises contracts at Thule Air Base and other activities, such as harbour construction work, air base work, environmental work and other infrastructure work. Currently, Aarsleff has ongoing contracts at a value of about DKK 200 million.

The contract does not affect Aarsleff's earnings expectations for the financial year 2014/2015.