NCC expands shopping center in Oslo for SEK 567 million (SE)

NCC Construction AS in Norway has entered into an partnering agreement with Metro ANS regarding the expansion and refurbishment of the Metro shopping center in Lørenskog Municipality, outside Oslo. The order is worth approximately SEK 567 million. Metro is owned by Steen & Strøm ASA and Storebrand Metro AS.

Work on the shopping center project will commence in February 2006 and is scheduled for completion in May-June 2008.

During the course of the 27-month project, NCC will construct and refurbish a total of 65,000 m², of which the parking area will account for 12,000 m², the new shopping center for 12,000 m² and the refurbishment of the old shopping center for 21,000 m². The new and the old buildings will then be joined together into a larger shopping center.

Work on the project also includes preparations for residential construction over parts of the shopping center.

With this contract, NCC consolidates its strong position in the Oslo region within the refurbishment and renovation segments. The order also confirms NCC's position as the leading contractor working with the partnering form of cooperation in the Norwegian market.

NCC Partnering is the name of NCC's cooperative format for providing an improved and more cost-effective construction process. It entails that all of the parties to a construction project operate on an open-books basis in terms of their costs and offers all of the parties incentives to reduce construction costs and thus to share the gains.

The order will be registered during the first quarter of 2006.

Source: NCC

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