ININ Group subsidiary lands significant excavation contract with Elvia

ININ Group's wholly owned subsidiary Qben Power, through its fully owned Skyttermoen Anlegg AS, has been awarded a long-term frame agreement to provide excavation services to Norwegian grid operator Elvia. The services will cover the Hamar and Gjørvik areas of Innlandet county, Norway.

The agreement, valid for three years from 2025 with three optional one-year extensions, holds an estimated annual revenue potential of NOK 35 – 70 million. Over the initial fixed three-year period, this translates to between NOK 105 and 210 million.

If all option periods are exercised, the total value of the frame agreement could potentially grow to between NOK 300 and 400 million. ININ Group is a listed investment company focusing on infrastructure and industry services niches in the Nordics.