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Endur ASA

BMO Entreprenør awarded NOK 150 million frame agreement

By 04.04.2022November 3rd, 2023No Comments

BMO Entreprenør, a wholly owned subsidiary of Endúr ASA, has entered into a three-year frame agreement with Agder Energi. The contract value of the frame agreement is up to NOK 150 million.

– This is a strategically important agreement. The energy industry is a focus area for both BMO Entreprenør and the Endúr Group. In recent years we have made significant efforts to position the company for such contracts. It is therefore very gratifying that we were preferred by Agder Energi, says CEO of BMO Entreprenør, Aleksander Rød.

The framework agreement applies to works for the entire Agder Energi Group, including wholly and partly owned companies. Agder Energi operates 49 wholly and partly owned power plants in Agder, as well as in southwestern Telemark. Total production is 8.1 TWh (average), which makes the company Norway’s fourth largest producer of hydropower. Agder Energi Nett AS has approximately 80 transformer stations, and with its 207,000 power grid customers, it is among the four largest electric power grid companies in Norway. The contract comprises construction work, for both new buildings, extensions, and major maintenance and rehabilitation work. The assignments can include concrete works and concrete rehabilitation, stonework (plastering of dams), carpentry and joinery work, steel work and engineering, etc..

The contract period is from 01.04.2022 to 31.03.2025, plus an extension option at current terms for a period of another three years. The maximum sum contract value is up to NOK 600 million for the entire period, inclusive of exercised options, covering four parallel contractees.
– Likely, BMO Entreprenør’s extensive expertise in demanding and complex infrastructure projects as well as our experience from similar special works are the main reasons we were awarded this contract. We are looking forward to getting started, says Rød.

CEO of Endúr ASA, Jeppe Raaholt, emphasizes the importance of the contract.
– Energy is a very attractive segment, for which BMO Entreprenør as well as several other companies in the Endúr Group have comprehensive expertise. Our market position and our areas of expertise, when aligned with the current energy situation both nationally and continentally, make the energy sector particularly interesting for the Endúr Group, says Raaholt.

The contract follows a series of awards for our marine infrastructure segment in the first quarter of the year, few akin to the Agder Energy contract in terms of contract volume and value, but in sum nevertheless very positive.
– Endúr has had a good start to the year. The Agder Energy award reinforces the group’s positive development, says Raaholt.

For further comments, contact:
Media
CEO of BMO Entreprenør, Aleksander Rød: +47 994 61 454
CEO of Endúr ASA, Jeppe Raaholt: +47 976 69 759
Investors
CFO og Endúr ASA, Lasse B. Kjelsås, tel: +47 908 49 772

About Endúr ASA Endúr ASA:
ENDUR is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbors, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Bergen, Norway. See www.endur.no

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