19.5.2026 09:00:01 EEST | GRK Infra Oyj | Investor News

GRK Infra Plc                                                        Investor news                                                  19 May at 9:00 a.m.

The City Council of Turku has decided on 18 May that the Turku Tramway Alliance will build a tramway in Turku. The project will be implemented in two phases. The cost estimate for the first implementation phase of the project is approximately EUR 33 million, of which GRK’s share is approximately EUR 12 million. The agreement is expected to be officially signed in September 2026, at which time the project will be transferred to GRK’s order book.

A tram connection of approximately 12 kilometres will bebuilt in Turku from the harbour to Kupittaa via the city centre and Varissuo. The project includes full-scale street renovation along the entire tramway route. In addition to the tracks, new cycle paths and pavements will be built, green infrastructure will be implemented, municipal technology will be replaced and the necessary foundation reinforcements will be made. The decision concerns the construction of the tramway in accordance with the implementation plan prepared by the alliance and a binding cost estimate, and it is conditional on ensuring state funding in the next MAL (land use, housing and transport agreement) negotiations.

The major project will be implemented using an alliance model, in which the client, designers and contractors form a joint project organisation.  The contractors in the alliance are GRK and NRC Group, while Ramboll and Sweco are the designers. GRK will also partially act as a consultant for railway engineering systems in the project.

The project consists of a development phase and an implementation phase. During the development phase that began in spring 2024, a project implementation plan was drawn up, construction was prepared and the total cost estimate was updated. The total estimated cost of the project is approximately EUR 465 million. GRK has previously estimated its share of the entire project to be approximately EUR 190 million.

Construction is divided into two separate implementation phases

With the City Council’s decision, the project will enter the implementation phase. The first  implementation phase includes the construction of a public transport corridor in Turku and its budget is EUR 33 million, of which GRK’s share is approximately EUR 12 million. This phase involves the renovation of the Tuomiokirkkosilta bridge and the surrounding streets between Hämeenkatu and Eerikinkatu. In addition, extensive archaeological excavations will be carried out in the area. According to the preliminary schedule, the first construction phase is scheduled to start in early 2027, and the first implementation phase is scheduled to be completed by the end of 2028.

The second implementation phase, the actual construction of the tramway, will begin once the state funding has been secured in the next round of MAL negotiations. The tramway is scheduled to be completed in 2032, and commercial traffic will start in autumn 2033 after track testing and trial runs.

"We are very pleased with this decision, as we are now able to put the plans into practice. This is a significant project for GRK in many ways. The project strengthens the company’s order book, in which this project will be recorded once the agreement has been signed. At the same time, the project strengthens GRK’s position as one of Finland’s leading tramway builders. The Turku project is a consistent continuation of GRK’s tramway projects, after accumulating experience in Helsinki and Vantaa. Now we will get to build a project that is historically significant for Turku," says GRK’s CEO Mika Mäenpää. 

More information about GRK’s part of the project: 

• Jouko Viitala, Unit Director, tel. +358 40 538 1768

The Turku Tramway Alliance will build a 12-kilometre tramway in Turku between 2026 and 2033. The alliance includes the City of Turku and Turku Tramway Ltd. as clients, Ramboll Finland Oy and Sweco Finland Oy as designers and GRK Suomi Oy and NRC Group Finland Oy as contractors. 

Contacts

• 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. 

Attachments

• Download announcement as PDF.pdf