NRC Group ASA - Appointed to a light rail contract in Finland first phase EUR 12 million

Turku Tramway Ltd and the City of Turku have appointed NRC Group Finland, a company wholly owned by NRC Group ASA ("NRC") and GRK Finland as construction parties for the first phase of the Turku tramway project. The project will be implemented in two phases. The cost estimate for the first phase is approximately EUR 33 million, of which NRC's share is approximately EUR 12 million. The total estimated cost of the Turku tramway project (phases one and two) is EUR 465.2 million, of which NRC's share is approximately EUR 190 million. "We are very proud to be an alliance partner of the Turku tramway project, reflecting great work by our Finnish operations. This is a confirmation of the strong position we have built for years in the light rail division. We are committed to deliver sustainable infrastructure in the city of Turku when first phase commences", says Anders Gustafsson, CEO of NRC Group ASA. The first phase contract includes the construction of a public transport corridor in Turku. During this phase, the Turku Cathedral Bridge (Tuomiokirkkosilta) and the adjacent streets between Hämeenkatu and Eerikinkatu will undergo comprehensive renovation, and extensive archaeological excavations will be carried out in the area. According to the preliminary project schedule, construction of the first phase is planned to commence in early 2027 and is scheduled for completion by the end of 2028. Construction of the second phase, the actual tramway, will commence if Finnish state funding is secured in the next round of MAL negotiation. The tramway in second phase is scheduled to be completed in 2032, with commercial operations starting in autumn 2033 following track testing and trial runs. Formal signing of the contract for the Phase 1 is expected to take place in September 2026. For further information, please contact: Åsgeir Nord, CFO of NRC Group, (+47) 957 34 985. This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-11 16:23 CEST.