7.5.2026 18:30:02 EEST | GRK Infra Oyj | Investor News
GRK Infra Plc Investor News 7 May 2026 at 6.30 p.m.
A consortium formed by GRK and Kreate signed an agreement on the second implementation phase of the eastern part of the Vantaa tramway on 7 May 2026. The revised total cost estimate of the Vantaa tramway is approximately EUR 750 million. The construction volume of the eastern section alliance is estimated at EUR 250 million, which is divided equally between the parties to the consortium. GRK will record approximately EUR 79 million in its order backlog for this second implementation phase.
The construction of the Vantaa tramway began in 2025 and service can begin in late 2029. The first partial order for the tramway was agreed in November 2025, and the second partial agreement, drawn up today on 7 May, covers the rest of the tramway section to be built in Vantaa as well as the street and municipal engineering work and water supply work to be carried out in Vantaa.
The construction of the Vantaa tramway is divided into two alliances. In the alliance for the eastern section, the builders are GRK Suomi Oy and Kreate Oy and the designers are AFRY Finland Oy, Sweco Finland Oy and WSP Finland Oy.
For the eastern section alliance, the value of the second partial order ordered now is approximately EUR 182 million, of which construction accounts for approximately EUR 157 million. It is divided equally between the construction parties to the consortium. GRK's share of the second partial order is EUR 79 million. Following the agreement concluded on 7 May 2025, the total volume of Vantaa tramway contracts in GRK's order backlog is slightly over EUR 120 million.
The eastern alliance will build an approximately 8.5-kilometre tramway section from Kuninkaala, Vantaa, to the Mellunmäki metro station in Helsinki. The project includes the tramway system as well as stops, lanes, bicycle and pedestrian lanes and underground infrastructure, such as water supply lines and foundation reinforcements. In addition, new bridges will be built in the eastern section, for example over Ring Road III and Porvoonväylä.
In addition to the City of Vantaa, the Helsinki Region Environmental Services Authority (HSY) is the second client of the tramway project. In addition, the client of the eastern alliance is Metropolitan Area Transport Ltd, which represents the City of Helsinki's project in Mellunmäki.
Construction work will expand in Vantaa following the second partial order
The construction of the Vantaa tramway began in December. Jonna Tuomiranta from GRK is the project manager for the eastern section alliance and Sami Kari from Kreate is the deputy project manager. According to them, the construction sites will expand considerably in the spring, especially at Hakunilantie and Länsimäentie. At Kyytitie, roadworks will start along the entire length of the road from the Heidehof roundabout to the Kyytitie-Hakunilantie junction. The first visible element of the tramway, i.e. the installation of the tracks, will begin in late summer.
"Both companies have long-term expertise in major rail and infrastructure investments and alliance projects, and we have been able to combine our expertise in the Vantaa tramway. This has been reflected in the outcome of the work: we have progressed systematically and been able to develop implementation solutions in this demanding project," says GRK's Jonna Tuomiranta.
Later, the implementation phases will start with the Helsinki section and the Vaarala depot railway yard alliance
The content of the eastern part of the alliance also includes the construction of a tramway in the Mellunmäki area, which is in Helsinki. The current town plans make it possible to draw up the street plan required by the tramway, but the City of Helsinki is currently implementing a change in the town plan for the centre of the Mellunmäki area. The aim is to coordinate the construction with the development projects of Mellunmäki, so the City of Helsinki will only order the construction of the Vantaa tramway in the third partial implementation phase. The target schedule for the order is the turn of the year 2026-2027.
GRK and Kreate also act as construction parties to the Vaarala depot railway yard alliance, which is responsible for the groundworks and railway infrastructure of the tram depot to be built in Vaarala, as well as electric track and electrical system work. The depot's implementation phase will begin in summer 2026. The Vaarala depot will enable the Vantaa tram to start service according to schedule in 2029.
Contacts
- Markku Puolanne, CFO, +358 40 069 4114, markku.puolanne@grk.fi
- Mika Mäenpää, CEO, GRK Infra Plc, GRK Suomi Oy, mika.maenpaa@grk.fi
About GRK Infra Oyj
GRK designs, repairs and builds roads, highways, tracks and bridges in order to make everyday life run smoothly, promote people meeting each other and to create a more sustainable future. GRK's expertise also include selectricity network construction and environmental technology. We operate in Finland, Sweden and Estonia with approximately 1,200 professionals. GRK's core competencies include the execution of versatile infrastructure construction projects, project management of both small and large projects as well as extensive rail expertise. GRK provides services from design to construction and maintenance.
Our customers include the state administration, municipalities and cities, as well as the private sector. GRK works on several projects in alliance with other companies of the infrastructure construction sector.
In addition to the parent company GRK Infra Oyj, the GRK Group includes country companies in each operating country: GRK Suomi Oy in Finland, GRK Eesti AS, A-Kaabel OÜ and Novus Initium Investments OÜ in Estonia and GRK Sverige AB in Sweden. The parent company GRK Infra Plc is responsible for the Group's administration and financing. The country companies carry out the Group's operative activities.
