Lemminkäinen (OMXH: LEM1S) announced after market close that it has landed a lifecycle project for the design & construction of community centre in Oulu, Finland. The project includes a 25-year service period with management and maintenance, user services and modernisation investments provided. The existing buildings on the site will need to be demolished.
Oulu City Administration decided on the service provider today. Lemminkäinen won the public tender process. The expected total value of the project is around 86 million Euros. The construction covers half of this sum. For Oulu City the total project costs are estimated to top 100 million. The City Board voted in favour of the project by 47 votes to 15 with 4 abstaining.
The new centre will have a comprehensive school, a high school replacing existing Kastelli and Karjasilta high schools, youth centre, daycare, auditorium, library, senior secondary school and exercise facilities within its 23,000 square meter space. Construction work is expected to begin in the Summer with inauguration planned for August 2014.
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