SRV Yhtiöt Oyj : to construct a new building for the National Repository Library in Kuopio

SRV GROUP PLC INVESTOR NEWS 7 JUNE 2023 9.00 EEST

SRV to construct a new building for the National Repository Library in Kuopio

Senate Properties and SRV have signed an agreement on the construction of the National Repository Library in the Hiltulanlahti district of Kuopio. The preliminary contract was signed in January, after which there was the investment decision made for the project. The project will take the form of a turnkey contract, and the value of the agreement to SRV is approximately EUR 17.1 million. In a turnkey project the contractor is responsible for the design, engineering and implementation of the project. The project will be entered into SRV's order backlog in June 2023.

The project involves building new premises for the National Repository Library with a gross floor area of 10,001 m². Construction work will begin immediately. Construction is due for completion by the end of 2024.

The National Repository Library is an entity belonging to the Ministry of Education and Culture, serving scientific, general and other libraries. The principal function of the National Repository Library is to receive and store material transferred from Finnish libraries and make it available to whoever needs it. The current premises are in Päiväranta, Kuopio.

"The new National Repository Library is an important building for society, serving citizens and researchers all over Finland. We participated in Senate Properties' competitive negotiation procedure, during which our design and engineering team planned the buildings and premises on the plot we acquired. When finished, the facilities will enable the end-user to operate efficiently for decades to come. We were delighted to win the contract with our high-quality solution and continue our long-term cooperation with Senate Properties. We are currently working for Senate Properties on the construction of the new main police station and prison in Oulu and the new main police station and police jail in Vantaa," says Harri Martin, Project Director, at SRV.

"The National Repository Library is a unique entity that has never had a new building constructed for it before. The project will be carried out under a new type of contract, which also requires the contractor to acquire the plot and create the design. This allows us to make the most of the contractor's expertise on this project," says Jarkko Karvonen, Manager of the Construction Contracting Group at Senate Properties.

Senate Properties is the client and developer of the project - the company is responsible for the construction, maintenance and development of the state's properties and work environments. In its operations, Senate Properties complies with the state's cost price-based lease system, in which rents are used to cover property investments, maintenance and other related costs.

Additional information:

Kimmo Hyry, Unit Director, SRV, tel. [phone], [e-mail]

Harri Martin, Project Director, SRV, tel. [phone], [e-mail]

Heli Pulkkinen, Communications Specialist, SRV, tel. [phone], [e-mail]

Jarkko Karvonen, Manager of the Construction Contracting Group, Senate Properties, tel. [phone], [e-mail]

Tuomas Koivumäki, Development Manager, Eastern Finland, Senate Properties, tel. [phone], [e-mail]

Image used in the bulletin: Arkkitehtiruutu Oy, SRV

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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 3,800 partners.

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