GRK selected to participate in the Port of Luleå alliance project
Summary
- We expect the Port of Luleå alliance project, valued at approximately 25-30 MEUR, to partially fill the gap in GRK's Swedish revenue following the completion of the Stegra project.
- In our view, the project is a good medium size for GRK and aligns with typical alliance models, progressing from development to implementation phases with separate decisions for each part.
- We assess that the project will likely transition to the implementation phase, but it has not yet been added to GRK's order book, and no revisions to our GRK estimates are necessary at this time.
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Translation: Original published in Finnish on 9/29/2025 at 7:58 am EEST.
GRK announced that it has been selected for an alliance project in the Luleå port development project, worth around 25-30 MEUR to the company. This project is medium-sized on GRK's scale. Although the project has not yet been added to the order book and construction will not start immediately, we believe the project will be realized and will partially fill the gap in the company's Swedish revenue left by the completion of the large Stegra project in the coming years.
Project is a good medium size for the company
GRK announced on Friday that it had been selected as the infrastructure builder for the development project of the Port of Luleå in northern Sweden. This is an alliance project valued at approximately 25–30 MEUR for GRK. Thus, the project is of a good medium size on GRK's scale.
Typically for an alliance model, there is progression of the project from the development phase to the implementation phase. A separate decision will be made on the implementation of each part. As is typical for these types of projects, the order will be transferred to GRK's order book only after the decision to proceed to the implementation phase has been made. In the Nordics, however, projects are likely to transition from the development phase to the implementation phase. Therefore, the selection does not cause revisions to our GRK estimates at this time.