YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
YIT Lietuva, a sustainable urban development and construction company, continued to expand its infrastructure business last year. In total, in the area of infrastructure development, the company implemented nearly two dozen projects for nearly 64 million EUR in 2019. Company plans strengthening its infrastructure business this year and invest about 1.2 million EUR in new equipment for this segment alone.
Among the biggest infrastructure projects implemented by YIT Lietuva last year are: the reconstruction of highway A14 Vilnius-Utena, better known as Molėtai highway, the construction of a 4 km section near the capital and construction of modern roundabouts, MSC container loading and storage facilities in Klaipėda, reconstruction of the 11 km section of the road No.165 Šilalė - Šilutė and the bridge over the Šyša river. In addition, YIT Lietuva, in accordance with the agreement with Vilnius City Municipality, continues the repair and maintenance of streets and courtyard pavements in the northern and western part of Vilnius.
“YIT Lietuva's experience, capabilities and competence in infrastructure, innovation and the customization of Scandinavian best practices offer significant opportunities to strengthen its position in this segment. Last year we carried out works on the development and modernization of road infrastructure, implemented projects important for cargo transportation and increasing the economic potential of the port city. The goal for this year – continue to maintain the volume of work and expand into the seaport and railway infrastructure market,” says Kęstutis Vanagas, YIT Lietuva general manager.
K. Vanagas says, it’s no secret that company is also interested in Lithuania's strategic infrastructure projects, such as construction of the Rail Baltica railway link. According to the general manager, the development of urban infrastructure, promoted by new real estate projects, also has a lot of potential.
“The main challenges facing the infrastructure sector today - rising labor costs and staff shortages. As a result, one of our priorities this year will remain the development of employee competencies and motivating working conditions assurance,” says K. Vanagas.
In total, YIT Lietuva paving and infrastructure segment team currently consists of nearly 330 employees. This year company intends to invest not only in their education and competence development - another 1.2 million EUR is intended for purchase of new equipment. Additional investments will be made to improve operational processes - we will use the Dalux program in order to manage workplace safety and quality parameters better in the infrastructure business, and the iTWO digital construction system will help project implementation more effectively.