– Investor News
SRV GROUP PLC INVESTOR NEWS 27 NOVEMBER 2018, AT 10.00
Implementation decision in Helsinki-Vantaa Airport Terminal 2 extension project – SRV to launch site
Construction of the alliance project for extension and modification work at Helsinki-Vantaa Airport’s Terminal 2 is to be launched. Finavia has made the implementation decision, enabling SRV to initiate important preliminary work in the area for the first implementation phase. The Terminal 2 extension project will be entered in SRV’s order backlog, and the total cost estimate of the first phase is approximately EUR 250 million. The actual implementation stage contract for the project will be signed in spring 2019, when the project’s final target cost will be clarified.
For SRV, the development phase of the T2 extension and modification work began in summer 2017, when SRV was selected as service provider for the construction of the project’s alliance contract. In December 2018, site establishment, demolition work and earth construction on a new parking facility will be launched in the area. The planned extension and modification work is due to be completed in stages during 2021–2022.
“The Helsinki-Vantaa Terminal 2 extension and modification contract represents an interesting project for us, because it concerns a major international air transport node. We have already shown our expertise in the construction of the airport’s railway station, the extension of the P5 parking facility and a maintenance centre,” says SRV’s Executive Vice President, Juha Toimela.
The aim of the Helsinki-Vantaa Airport extension and modification work is to create, in front of the present Terminal 2, a new area serving flight passengers, which will be completed 2021. The extended terminal will feature a new section for check-in, security checks, baggage transfers and passenger reception as well as a travel centre connecting different forms of transport. Terminal 2’s present departure and arrival halls will be remodelled into a gate area. The scope of the new construction and renovation area totals 75,000 square metres, of which the extension accounts for approximately 40,000 square metres.
“The Terminal 2 extension is a significant part of Finavia’s over EUR 1 billion investment programme. It aims to strengthen Helsinki-Vantaa’s competitive position as a major European transit airport and to prepare to serve in the future 30 million passengers. Helsinki-Vantaa’s strengths are smooth and uncomplicated travel, friendly staff and innovative services. We also want to maintain these strengths as passenger numbers grow. The construction project to be launched in January will strongly support our customer experience objectives,” says Finavia’s Joni Sundelin, Director of Helsinki-Vantaa Airport.
The project’s development stage and implementation stage will advance using the alliance model, which has become commonplace in Finland. In the alliance model, project planning and construction are implemented together, and the risks and benefits are shared between the alliance actors. The Helsinki-Vantaa Airport extension work alliance consists of SRV and Finavia as well as a planning group comprising Architectural firm ALA, Architectural firm HKP and Ramboll Finland.
For further information, please contact:
Juha Toimela, SVP, Operations in Finland, tel. +358 40 594 5473, email@example.com
Johanna Henttonen, (acting) Senior Vice President, Communications, tel. +358 40 530 0778, firstname.lastname@example.org
Finavia, Media Desk, tel. +358 20 708 2002 (Mon-Fri 8.30-16.00), email@example.com