Veidekke's subsidiary Arcona has been commissioned by Costco Wholesale to build Scandinavia's first Costco store in Arninge near Stockholm. The project is a construction contract that includes tenant adaptation of 14,000 square meters. The work starts now and continues until October. The contract has a value of approximately SEK 145 million.

Arcona is already in the process of building Costco's first establishment in Sweden in Arninge, just north of Stockholm. The new contract includes the adaptation of the building, which will soon be completed and will be environmentally certified to the standard Miljobyggnad level Silver. The premises will include a bakery, departments for meat and cold cuts, an optician, a hearing center, a pharmacy and a cafeteria. Costco plans to open in late autumn 2022.

Costco Wholesale is the world's third largest retail chain and operates department stores with a member club, where members should be able to buy quality brands at the lowest possible price. With hundreds of department stores and offices around the world, Costco offers a huge product range rooted in sustainability and the environment.

We are very pleased to get started with the construction work on site. Arcona has shown great commitment and good cooperation in the initial phase of the project. It is with great excitement and pride that we are now establishing ourselves in Stockholm, says Derek Waddington, Manager - Construction & Facilities, Costco Wholesale UK Ltd.

For Arcona, this is a very special project that will be completed in record time, and where we work with open books with Costco and their project manager Turner & Townsend. Early in the process, we engaged our strategic installation contractors, and through the contract negotiations we have also had the opportunity to secure deliveries of materials with a long delivery time, says Niklas Virving, department manager at Arcona.

The contract is included in the order backlog for the current quarter.

Contact:

Charlotta Nilsen

Executive Vice President

Veidekke Bygg Sverige

Tel: +46 70-600 30 87

Veidekke is one of Scandinavia's largest contractors. The company performs all types of building and construction assignments, maintains roads and produces asphalt, crushed stone and gravel. Involvement and local knowledge characterize the business. The turnover is about NOK 38 billion, and half of the 7,800 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always made a profit since its inception in 1936.

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