5
NEWS
International companies have prequalified in a bid
to win contracts for the Follo Line in Norway – the
country’s largest transport project at the moment,
which is scheduled for completion by the end of
2021. As Norwegian legislation was recognised
as being a challenge to international companies,
and to avoid misunderstandings and conflicts
along the way, Jernbaneverket, the Norwegian Rail
Administration, decided to invite pre-qualified
companies to a full-day seminar on laws and
regulations. The project will comprise around 64km
of new railway tracks, with a 20km tunnel and
includes extensive work at Oslo Central Station and
the construction of a new station at Ski, as well as
the necessary realignment of tracks for the existing
Østfold line on the approach to Oslo Central Station,
and between the tunnel and the new Ski station.
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DOUBLE DIGIT
Italian contractor Salini
Impregilo’s revenues
were €2.1 billion for the
first half of the year, a
13% increase on 2013.
The company achieved
earnings before interest
and tax (EBIT) of €114
million for a 5.4%
margin.
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DUTCH LOSSES
Dutch-based company
BAM has recorded a fall
in its half-year revenues,
following €68 million
losses surrounding
delivery of two major
projects in Europe. Its
six-month figure of
€3.38 billion is down
year-on-year against
€3.23 billion for 2013,
as it encounters issues
within its construction
and mechanical and
electrical services
divisions. The results,
which represent a
6% net loss, were
largely attributed to
increased complexity
of progressing a civil
engineering scheme in
West Germany.
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GERMAN BUYOUT
German manufacturer
Wirtgen has bought
a 70% stake in
Benninghoven, a
privately-owned
Mülheim, Germany-
based producer of
asphalt mixing plants.
Wirtgen – which also
owns the Vögele,
Hamm and Kleemann
construction equipment
brands – said adding
Benninghoven’s asphalt
mixing technology
complimented its
existing portfolio.
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SWEDISH UPTURN
Scandinavian contractor
and property developer
Veidekke has seen an
upturn in business in
Sweden and Denmark
as profits continue to
climb. The Norwegian-
based firm posted a 12%
increase in turnover for
the second quarter of
2014, to record NOK6
billion (€730 million),
up from NOK5.4 billion
(€655 million) in 2014.
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STABLE HALF
Bavarian-based
foundations specialist
Bauer has reported a
stable first half to the
year, with total group
revenues up 3.9% to
€749.2 million from
€721.3 million for
the first half of 2013.
The construction
and equipment
manufacturing group
improved its EBIT
(earnings before interest
and taxes) by €6.2
million to €13.6 million.
However, Bauer also
posted a net loss of €11
million down on the
previous year’s figure
of €7.9 million due to
problems on a US dam,
and higher income tax
expenses.
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PROFITS UP
Boskalis Westminster
has reported that its
net profit has doubled
for the first half of 2014,
when compared to
figures for 2013. The
Dutch dredging and
maritime infrastructure
contractor posted a net
profit of €253 million in
the first half of 2014, up
from €123 million for
the same period in 2013.
Revenue also increased,
up 21% to €1.5 billion
for the first half of this
year, compared to €1.3
billion in 2013.
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POSITIVE
A positive first half
to the year has been
reported by Swedish
contractor Peab, which
said that a strong
Swedish housing market
had contributed to
good market conditions.
It said that an action
plan implemented in
2013 was having the
intended effect and
that operations were
developing according
to plan.
BUSINESS NEWS
Bank backs Moldovan roads
A series of investments worth €670 million will be made to help improve Moldova’s
road network with the assistance of the European Bank for Reconstruction &
Development (EBRD).
In total, 830km of the country’s main road network is receiving support in a joint
partnership venture from the EBRD, the EU’s Neighbourhood Investment Facility
(NIF) and the European Investment Bank to enable the work, which will offer a
significant boost to its economy.
According to recent EU studies, the existing road infrastructure has been assessed
as among the poorest in Europe.
This was underlined by a survey in 2007 showing that only 7% of Moldova’s roads
were described as being in good condition – down from a figure of 70% in the
early 1990s.
The EU’s NIF scheme has been created to enable core infrastructure projects in the
transport and energy sectors.
Under the initiative, Moldova has already received a share of a €70 million fund
last year towards improving transport and water supply services within the country.
Since it was established in 2008, NIF has invested a total of more than €753 million
on schemes across Europe.
CONSTRUCTION EUROPE
SEPTEMBER 2014
Austria hydroelectric
scheme for Hochtief
Hochtief has been
awarded a €132 million
contract to build the
Triebwasserweg Maria
Stein tunnel at the
Gemeinschaftkraftwerk
Inn hydroelectric power
station in the Tyrol,
Austria.
Hochtief will be
responsible for driving
a 22.6km long, 6.5m
diameter pressure
tunnel, which will run
underground from the
Ovella reservoir to the
powerhouse in Prutz.
Hochtief will use two
hard rock double-shield
tunnel boring machines.
The tunnel will be
lined with prefabricated
concrete lining segments.
These reinforced
concrete elements will
be produced locally in a
field factory. The tunnel
build is the biggest and
most significant of the
three construction lots of
the hydroelectric power
station on the River
Inn. The tunnel will be
completed in mid-2018.
Wilfried Rammler,
general manager of
Hochtief Infrastructure,
said, “We are happy to
have won another large-
scale contract in the
Austrian market.
“This underscores
our competence in
the construction of
sustainable energy
infrastructure in Europe.”
The hydroelectric power
station will generate
power for more than
100,000 households.
ce
New
CE
deputy
Neill Barston has joined
Construction Europe
and sister magazine
International Construction
as deputy editor.
An experienced
journalist, he replaces
Helen Wright, who is now
editor of another KHL
magazine,
International
Rental News
.
Neill will be writing for
the magazines, as well as
taking part in videos and
podcasts.
ce
■
See the Nordic region
feature, starting on p23,
for more details
Neill Barston
