Veidekke Entreprenad AB is going to build a railway tunnel on the
Vänerbanan line between Trollhättan and Gothenburg for PEAB and the
Swedish Rail Administration, Banverket.

As a subcontractor to PEAB, Veidekke Entreprenad AB will build a 1.8
km long railway tunnel on the Vänerbanan between Trollhättan and
Gothenburg.

"We are pleased and proud to have been entrusted by PEAB and
Banverket to build the tunnel. The project will employ some 25 tunnel
workers and 10 office workers," says Konstantin Spinos, Project
Manager, Region Heavy Construction East.

The railway tunnel is part of the extension of the Vänerbanan line
between Trollhättan and Gothenburg. Here the line is being expanded
to have double track. PEAB's contract for the Hede-Älvängen stretch
of the line amounts to SEK 540 million.

"Along with the other tunnel projects we are working on, this project
means that we have enough work for all our employees for the
foreseeable future, providing security for everyone. We will drill
the tunnel using our new flagship - a brand new four-boom drilling
rig. This cements our position as a player to be reckoned with in the
tunnel market in Sweden, and we are very excited about the future, in
light of all the major infrastructure investments that are underway,"
concludes Konstantin Spinos.

Veidekke's contract is worth SEK 240 million. Work on the project
will start in December 2009 and is scheduled to be completed by 2012.


For further information contact:

Per Brinck, Regional Manager, Veidekke Entreprenad AB, Region Heavy
Construction East,
Tel.: +46 8 635 61 57 / +46 70 600 05 81
Konstantin Spinos, Project Manager, Veidekke Entreprenad AB, Region
Heavy Construction East,
Tel.: +46 8 635 61 28 / +46 733 559 924




Veidekke Entreprenad AB is part of Veidekke ASA, which is a leading
Scandinavian contractor and property developer with 6 250 employees
and an annual turnover of NOK 19.4 billion (2008). The Group is
listed on the Oslo Stock Exchange and has a broad ownership
structure, under which the employees own 18 per cent of the shares.
The Group's operations cover a wide range of building and
construction contracts, the development of housing and
non-residential buildings for private and public sector clients,
asphalt operations and road maintenance, as well as the collection
and recycling of waste.


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