SRV GROUP PLC INVESTOR NEWS 29 April 2026 at 15.20 EEST
SRV selected for the development phase of the Vaarala depot building – this depot will enable tram service in Vantaa
SRV and Pääkaupunkiseudun Kaupunkiliikenne Oy have signed an agreement for the development phase of the construction of the Vaarala depot building in Vantaa. The project is being carried out as a collaborative project management contract and its development phase was launched in April. The depot will be erected in Vaarala, next to Ring Road III and along Länsimäentie. Preparatory work, such as tree removal, has already been done on the site this spring. The project implementation phase is preliminarily scheduled to begin in the summer. Construction will be carried out from 2026 to 2028. The Vaarala depot will enable tram service to begin operating in Vantaa on schedule in 2029. Competitive tenders were invited for the project.
“We held two rounds of negotiations during which we assessed the capabilities of the bidding suppliers to construct the depot building. These negotiations also dealt with the project’s commercial terms, a cooperation agreement with the rail yard alliance responsible for track construction in the depot area, and the specification of the content of the project plan for the development phase. It’s great to be able to partner up with SRV,” says Project Manager Lotta Koski-Lammi, Metropolitan Area Transport Ltd.
An environmentally sustainable and adaptable depot
Facilities will be built at the Vaarala depot for the storage, daily maintenance, servicing and repairs of trams as well as track maintenance. The aim is to build an environmentally sustainable, energy-efficient and modern depot with adaptable facilities designed with an eye on the potential future expansion of the tramway network.
“This project bolsters SRV’s leading position in cooperative and other forms of contracting, in which the company is particularly strong in public sector projects. SRV’s lifecycle-wise approach involves sustainable, energy-efficient and responsible construction that takes into account the needs of both the environment and people throughout the entire lifecycle of a building. It is well suited to achieving the environmental sustainability objectives set for the Vaarala depot,” says Mira Alatalo, Business Unit Director at SRV.
The town plan for the Vaarala depot area calls for the use of energy-efficient solutions and materials with low climate emissions in design and construction. These include low-carbon concrete, reused materials and recycled building components. An "Outstanding" or "Excellent" rating under BREEAM environmental certification will be sought for the depot.
Enquiries:
Mira Alatalo, Business Unit Director, SRV, tel. +358 (0)40 511 8959, mira.alatalo@srv.fi
Heli Pulkkinen, Communications Specialist, SRV, tel. +358 (0)50 411 0787, heli.pulkkinen@srv.fi
Lotta Koski-Lammi, Project Manager, Metropolitan Area Transport Ltd, tel. +358 (0)50 412 3312, lotta.koski-lammi@kaupunkiliikenne.fi
Image used in the bulletin: Afry Finland Oy
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SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. Our operations focus on growth centres in Finland. In 2025, our revenue totalled EUR 705.6 million. In addition to approximately 700 in-house staff, we have a network of around 2,900 partners.
SRV – Building for life
