SRV GROUP PLC INVESTOR NEWS 24 FEBRUARY 2023 09:00 EET
SRV to construct a large factory building for Okmetic in Vantaa
SRV and Okmetic, a manufacturer of silicon wafers, have signed an agreement on the construction of a new factory building in Koivuhaka, Vantaa. The project will take the form of a project management contract with a target budget. The contract is valued at approximately EUR 45 million and will be entered into SRV’s order backlog for February.
“It is a pleasure to embark on the construction of a new factory for Okmetic under a collaborative model. This approach is rapidly gaining popularity in industrial construction projects, and we expect it to become firmly established in the near future. We used a similar contract model to build a production plant for Bama Fresh Cuts in Vantaa, a fibre plant for Woodspin in Jyväskylä, and a new multipurpose hall at the Rauma docks. We can help our client integrate industrial and construction processes and advise on scheduling by working together, responding to their needs, and utilising lean principles,” says Jouni Forsman, SRV’s Senior Vice President, Business Premises, Helsinki Metropolitan Area.
“We are building a production environment for a high-tech company. This is a good opportunity for us to utilise the expertise gained in other technically demanding environments, such as hospitals and airports,” Forsman continues.
Okmetic is the world’s seventh-largest manufacturer of silicon wafers and the global market leader in supplying demanding silicon wafers. Silicon wafers are used to manufacture electronic components, such as MEMS sensors, radio frequency applications and semiconductors.
“It is great that an experienced and competent construction company of SRV's level has been partnered in this very demanding construction project. The semiconductor industry requires exceptional precision and functionality in terms of building and utilities. The difficulty factor is increased by the continuous, uninterrupted production of silicon wafers sensitive to external vibrations in the current production facility on the same site,” says Kai Seikku, CEO of Okmetic Oy.
The project management contract includes the coordination of SRV’s subcontracts and Okmetic’s separate subcontracts and procurements totalling approximately EUR 115 million. The total investment in the factory is nearly EUR 400 million.
The scope of the new building will be 42,500 square metres (gross), and it will be built alongside the existing factory. Construction work will begin immediately. The factory will begin production in 2025.
“The contract was the outcome of a two-month bidding process, during which the parties worked together to develop an implementation plan and technical solutions and prepared the initiation of the implementation phase to achieve the optimal result. During the bidding process, SRV’s project organisation learned about the client’s industrial process so that the production team fully understands the client’s needs for the new building. SRV Infra carried out a piling contract in the area at the same time, so we are ready to start construction,” Unit director Kimmo Hyry says.
Jouni Forsman, SVP, Business Premises, Helsinki metropolitan area, tel. +358 (0)40 519 0129, email@example.com
Kimmo Hyry, Unit Director, SRV, tel. +358 (0)400 158 088, firstname.lastname@example.org
Heidi Tetteh, Communications manager, SRV, tel. +358 (0)40 662 3220, email@example.com
Images used in the bulletin: SRV and Okmetic Oy
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. We operate in growth centres in Finland. In 2022, our revenue totalled EUR 770.1 million. In addition to approximately 1,000 in-house staff, we have a network of around 3,600 partners.
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