Estonia: Nordecon AS Signs Construction Contract for Kärdla Town Guest Harbour

Nordecon AS and Kärdla Sadam Foundation signed a contract for the construction of Kärdla town (center of Estonia’s second biggest island Hiiumaa) guest harbour. The works consist of dredging 35,000 cubic meters, construction of seawalls in length of 500 meters and development of harbour’s operating area by 9,000 square meters.

The works are co-financed by the European Regional Development Fund measure intended for the improvement of regional competition.

The contract value without the reserve for unexpected works is approximately 4.1 million euros, excluding VAT. The works begin in July 2012 and by contract end in December 2013.

Nordecon is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2011 was 147.8 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company’s shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.

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Source: nordecon, July 12, 2012