Betonmast, a subsidiary of AF Gruppen, has been appointed as contractor by
Boligbygg Oslo KF to carry out the complete internal refurbishment of 3
residential apartment blocks, in addition to the upgrading of associated outdoor
areas in the Ryen neighbourhood of Oslo. The contract has a total estimated
value of NOK 147 million excluding VAT. 

The assignment includes complete internal refurbishment of the premises. Works
will include the demolition of all interior elements and the reconstruction of
apartments with new finishes. Load-bearing internal walls and stairs will be
retained. New technical rooms will be fitted on the roof, in addition to new
roof coverings on all buildings. The apartment blocks will be provided with
heating from a new district heating system. Outside, the road facilities will be
updated while outdoor areas will receive upgrades to improve the residential
environment. Construction is expected to begin in May 2021.

'We are delighted that Boligbygg Oslo KF - a new client for Betonmast - has
chosen to appoint us to complete this refurbishment. We have extensive
experience of comparable projects, and are looking forward to getting to work,'
says Betonmast CEO Jørgen Evensen.

For further details, please contact:
Jørgen Evensen, CEO of Betonmast, tel.: +47 906 09 310 
Bård Frydenlund, Executive Vice President, Sweden and Betonmast for AF Gruppen,
tel.: +47 918 68 621

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© Oslo Bors ASA, source Oslo Stock Exchange