Veidekke Lands Record NOK 5.4 Billion Oslofjord Road and Tunnel Contract

An update from Veidekke ASA ( (GB:0GF6) ) is now available.

Veidekke ASA has secured its largest-ever contract, a NOK 5.4 billion design-and-build agreement with the Norwegian Public Roads Administration for phase two of the E134 Oslofjord Connection, a key road and tunnel project outside Oslo. The seven-year scheme will expand a 14-kilometre stretch between Frogn and Asker from two to four lanes, adding new tunnel tubes in the Oslofjord, Frogn, and Vassum tunnels, upgrading existing tunnels to current safety standards, and constructing major bridges and revamped interchanges.

With more than 11,000 vehicles using the Oslofjord Tunnel daily, including significant heavy goods traffic, the expansion is expected to materially improve capacity, predictability, and safety for road users. The project, set to start this summer, will be booked into Veidekke’s second-quarter 2026 order backlog and underscores the company’s competitive strength on price, expertise, and environmental performance in large-scale Nordic infrastructure, reinforcing its position in the regional civil engineering market.

The most recent analyst rating on (GB:0GF6) stock is a Hold with a NOK194.00 price target. To see the full list of analyst forecasts on Veidekke ASA stock, see the GB:0GF6 Stock Forecast page.

More about Veidekke ASA

Veidekke ASA is one of Scandinavia’s largest construction contractors, active across building and civil engineering projects, road maintenance, and the production of asphalt and aggregates. The Oslo-listed group emphasizes stakeholder involvement and local experience, generates annual turnover of about NOK 43 billion, and has a broad employee ownership structure, with roughly half of its 8,000 staff holding shares.

Average Trading Volume: 81,488

Current Market Cap: NOK25.64B

Learn more about 0GF6 stock on TipRanks’ Stock Analysis page.