15.6.2026 08:55:02 EEST | Kreate Group Oyj | Investor News
KFS Finland Oy (KFS), part of Kreate Group, has signed an agreement with Vattenfall for the reinforcement of dam 7 at the Pamilo hydropower plant in North Karelia, Finland. The value of the contract is approximately EUR 11 million, and it will be recorded in the order book for the second quarter of 2026.
Pamilo is Vattenfall's largest hydropower plant in Finland. The project involves constructing a watertight cut-off structure inside the dam using interlocking drilled piles. The pile structure to be built will be approximately 400 metres long and up to 32 metres high.
- This is a technically demanding specialist foundation construction project carried out in connection with an operating hydropower plant. The implementation requires extensive geotechnical expertise, precise phasing and careful consideration of uninterrupted energy production. The project is a good demonstration of our ability to deliver technically challenging projects safely and in a controlled manner, says Tommi Hakanen, CEO of KFS Finland Oy.
The objective of the investment is to improve the dam's long-term safety and ensure the long service life of both the power plant and the dam structures.
- The Pamilo project demonstrates Kreate Group's strong expertise in the construction, repair and reinforcement of critical infrastructure. The reliability and safety of energy infrastructure are essential to society, and KFS's specialist expertise enables the implementation of technically demanding projects even in exceptionally challenging operating environments, says Timo Vikström, President and CEO of Kreate Group.
KFS will begin preparatory work on the project in summer 2026. Construction is scheduled to start in autumn 2026, and the project is expected to be completed during 2027.
Kreate Group Plc
Contacts
- Mikko Laine, CFO, Kreate Group Oyj, +358 50 599 9201, mikko.laine@kreate.fi
- Niina Streng, Head of Investor Relations and ESG, Kreate Group Oyj, +358 41 732 3362, niina.streng@kreate.fi
About Kreate Group Oyj
Kreate Group is one of Finland's leading infrastructure construction companies. The company builds bridges, railways, roads, and tunnels, and provides solutions for environmental construction, foundation and specialist foundation engineering, circular economy, and geotechnical needs. As a specialist in demanding projects, Kreate focuses on comprehensive quality and cost-effectiveness. The Group's revenue in 2025 was EUR 315 million and the company employs over 800 people. Kreate Group is listed on Nasdaq Helsinki.
