Eltel Wins a Power Transmission Contract in the UK at a Value of Almost EUR 45 Million

Regulatory News:

Eltel AB (STO:ELTEL):

Eltel’s 50/50 joint venture Carillion-Eltel in the UK has signed a power transmission contract for the design, procurement and construction of a new overhead line for National Grid in the UK. The total value of this contract is almost EUR 45 million.

The contract for the overhead transmission line is a project to construct a 400 kV line including 60 towers in South East England. The total length of the line is approximately 20 kilometres. In addition to the construction of the new line, the contract includes dismantling of an existing 132 kV overhead line. The total value of this contract is almost EUR 45 million and the project is executed by the Carillion-Eltel joint venture.

According to standard procedures in the UK, the project is currently being examined by the Planning Inspectorate with a planning decision expected to be made by the Secretary of State for the Department for Business, Energy & Industrial Strategy in June 2017. If a Development Consent Order is granted by the Secretary of State, construction would start in summer 2017 and is estimated to run until 2021.

Fredrik Menander, President – Power Transmission at Eltel AB comments: "We are very happy to be back in the UK power transmission market with a new contract for National Grid. Our joint venture with Carillion plc won its first transmission network upgrade contract in 2012. Eltel’s cross border workforce capability and our transmission system engineering in Poland has been a great contributor to our success in the UK. This new contract is a proof of our competitiveness to deliver well-engineered projects in a safe and cost efficient way”.

This information is information that Eltel AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on August 12, 2016.

About Eltel

Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Security, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. In 2015 Eltel net sales amounted to EUR 1,255 million. The current number of employees is approximately 9,600. Since February 2015, Eltel AB is listed on Nasdaq Stockholm.

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