YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
In the spring of next year, YIT Lietuva, a sustainable urban development and construction company, will start reconstructing the Šiauliai-Palanga trunk-road, i.e., renovating a nearly 2 km road section beside Vydmantai settlement. The condition of the road running to the main seaside resort of the country is currently assessed as poor. Therefore, the repair works should improve the traffic conditions on the way to and from Palanga. The value of the planned works amounts to EUR 716K.
During the reconstruction of the two-lane trunk road, approximately 17K sq. m of road surface will be restored. The current paving surface is damaged with tracking ruts, local corrugations, and netted cracks. Therefore, the road will be paved with high-quality, low-noise SMA 8 S asphalt. The pedestrian walkways and bicycle tracks along the road section will be repaired, as well.
"Every year, Palanga receives more and more holidaymakers. As a result, the road section at the entry to the resort has an extremely high traffic. Average annual traffic intensity on this section of the road is estimated to reach almost 8 thousand cars a day. Reconstruction of the road will ensure smoother traffic and higher traffic capacity in this place. This, in turn, will reduce traffic congestions and, at the same time, the environmental impact of motor transport. It will be easier and safer to reach the seaside from towns and districts of Northern Lithuania,” Kęstutis Vanagas, General Manager of YIT Lietuva, emphasises the benefits of improving the road infrastructure in the region.
According to K. Vanagas, the reconstruction of the road section will involve advanced paving methods, which ensure an efficient use of materials, high performance, and pavement quality.
Under the contract signed between the company and the Lithuanian Road Administration, the works on the A11 road section beside Vydmantai settlement will commence at the beginning of March next year and will be completed by August.
YIT Lietuva is currently carrying out the following works: reconstruction on sections of the A1 trunk road (Vilnius-Kaunas-Klaipėda), repairs of the section of Tilžės Street and Šilutės Highway in Klaipėda, reconstruction of the regional road Dituva-Priekulė-Dreižiai in Klaipėda District, repairs of the road Narbutiškės-Akmenskynė In Telšiai County, restoration of the regional road Kretinga-Skuodas, erection of a multi-level crossing of railway and highway in Vievis, and other infrastructure development projects.
Besides, YIT Lietuva is currently running the following projects in Vilnius: the residential housing project “Matau Vilnių” near the Tauras Hill, the second stage of the project “Raitininkų Sodas” across the Kalnų Park, and the urban project “Naujasis Skansenas” in reviving Šnipiškės. In Kaunas, the company is developing the urban project “Piliamiestis” on the right bank of the Neris River. Also, it is building a business centre on Žalgirio Street and a production facility on Dvarčionių Street in Vilnius.