Inin Group AS: Subsidiary awarded electrical rehabilitation contract

18 Apr 2023 11:07 CEST

18 April 2023 – Inin Group’s subsidiary Hadeland Elektro AS has been awarded a
NOK 12 million contract to perform electrical rehabilitation work at the Furuset
Line in Oslo, Norway.

The Furuset Line (Norwegian: Furusetbanen) is a 6.5-kilometre long line on the
Oslo Metro.

Hadeland Elektro will deliver its work scope as subcontractor to Railcom, which
carries out the rail maintenance work during the work closure period between 18
May and 4 September 2023. Hadeland Elektro’s work includes the fields of
telecommunications, electricity and high voltage.

“This contract is an excellent strategic fit for our expertise related to rail
power supply,” says Jon Haugsbakken, managing director of Hadeland Elektro.

This is the second contract Hadeland Elektro has won in connection with
Sporveien’s upgrades at Furusetbanen. On 7 March 2023, Inin Group announced that
Hadeland Elektro had been awarded a NOK 6.5 million contract to oversee all
electrical installations during the rehabilitation of the rectifier station at
Furuset in Oslo.

Hadeland Elektro is an electrical contractor that delivers complete
electrotechnical solutions for construction and infrastructure projects,
including the energy, rail and road sectors. The company possesses all necessary
approvals for high and low voltage work for the rail industry, and also performs
inspection work of high-voltage grids.

Inin Group is the largest shareholder of Hadeland Elektro with 65 percent
ownership.

(ENDS)

For further information, please contact:
Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS
Inin Group is an industrial owner that invests into companies within
infrastructure and industry services niches in the Nordics. The group aims to
create value by identifying investment opportunities within profitable niches
with potential for development, consolidation and growth, working in
collaboration with portfolio companies to deliver sustainable growth and
superior profitability.

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