Kreate secures a major railway project in Tampere

Translation: Original comment published in Finnish on 6/6/2024 at 6:29 pm EEST.

Kreate announced on Thursday that it has won the tender for the Tampere passenger railway yard project and will now start planning the construction of the project with its alliance partners (the Finnish Transport Infrastructure Agency, the City of Tampere, VR-Group Plc and Fintraffic Railway Ltd). The aim is to improve the overall functionality of one of the busiest railway station areas in Finland for both passengers and rail services. Winning the tender is a good indication of Kreate's competitiveness and supports well our growth forecasts for the coming years. Kreate had already highlighted the project as one of the most important public tenders earlier this year. 

Project of significant size

With a total estimated cost of 202 MEUR, the project is substantial even for a company of Kreate's size, although Kreate's share was not disclosed in the press release. The project will be carried out over several years, with a development phase starting this year, after which construction could start in 2025, according to the preliminary plan. A more detailed construction schedule and target cost will be determined during the development phase. Once construction begins, the project will take approximately 4-6 years to complete, according to the press release. Roughly estimated annual revenue from the project would be around 40 MEUR, probably concentrated in the middle and final stages of construction.

Growth in line with strategy

The railway project is a good example of the fruits of the company's growth efforts. In line with its strategy, the company is seeking growth from railway projects, and winning the Tampere passenger railway yard project is a good example of the company's competitiveness. The project will bring together different aspects of infrastructure construction, from bridge repair to foundation and track work, so Kreate's wide range of expertise has also been useful in the project. According to the press release, in addition to the renovation of the platforms, tracks and shelters at the train station, the project also includes the renewal of the Erkkilä overpass and the underpasses of the Viinikanoja and Tampereen valtatie highway as well as combining the Itsenäisyydenkatu underpass and the station tunnel into one travel terminal