Yahoo Finance Construction contract in Estonia (tram line connecting Old Harbour and Rail Baltic's Ülemiste passenger terminal in Tallinn)
On 9 August 2022, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and KMG Inseneriehituse AS signed a design and construction contract with Tallinn Urban Environment and Public Works Department for the construction of a tram line connecting the Tallinn Old Harbour with Rail Baltic’s Ülemiste passenger terminal.
About being selected the preferred bidder, AS Merko Ehitus published stock exchange announcement on 19 July 2022.
Under the agreement, a new tram line will be built on a section of approximately 2.5 kilometres, starting at the intersection of Kivisilla/Gonsiori streets up to the Põhja boulevard. In carrying out the works, AS Merko Ehitus Eesti is the leading partner with a 50:50 ratio.
The contract value is approximately EUR 36.5 million, plus value added tax. The scheduled deadline of the works is in February 2025.
AS Merko Ehitus Eesti (merko.ee) is Estonian leading construction company, which offers construction services in general construction, civil engineering and residential construction and develops residential real estate. To ensure the best quality and convenience for home buyers, Merko manages all phases of the development: planning, design, construction, sales and service during the warranty period.
Additional information: Mr. Ivo Volkov, CEO of AS Merko Ehitus Eesti, phone +372 680 5105.
Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee
AS Merko Ehitus (group.merko.ee) group companies develop real estate and construct buildings and infrastructure. We create a better living environment and build the future. We operate in Estonia, Latvia, Lithuania and Norway. As at the end of 2021, the group employed 670 people, and the group’s revenue for 2021 was EUR 339 million.
