ININ Group AS: Qben Power subsidiary secures long-term frame agreement for excavation services, with a potential value of NOK400million

29 Oct 2025 09:00 CET

29 October 2025 – ININ Group’s wholly owned subsidiary Qben Power has been
awarded long-term frame agreement to provide excavation services to Norwegian
grid operator Elvia in the Hamar and Gjøvik areas of Innlandet county, Norway.

The frame agreement is valid for three years from 2025, with three optional
one-year periods (3+1+1+1). The frame agreement is awarded to Qben Powers fully
owned Skyttermoen Anlegg AS.

According to the frame agreement, work in the Gjøvik area is estimated at
generating revenue of between NOK 15 and 30 million annually, and work in Hamar
is estimated at between NOK 20 and 40 million annually. Combined, this totals
NOK 35 – 70 million annually, which is equivalent to NOK 105 – 210 million over
the fixed three-year period of the frame agreement. If all option periods are
exercised, the total value could potentially grow to between NOK 300 and 400
million.

Inin Group’s majority owner is Stockholm-listed Qben Infra AB. Skyttermoen
Anlegg is part of the group’s Qben Power platform.

(ENDS)

For further information, please contact:
Anders Granshagen, Qben Power, tel: +47 911 98 444

About ININ Group AS
ININ Group is a listed investment company operating as an industrial owner with
investments in companies within infrastructure and industry services niches in
the Nordics. The group create value by identifying investment opportunities
within profitable niches with potential for development, consolidation and
growth, working in collaboration with the platform companies to deliver
sustainable growth and superior profitability. For more information, please
visit: www.inin.no

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