Termination of the construction contract in Estonia (hotel


the Construction contract for the construction of a hotel in Tartu mnt 49, concluded on February 12, 2020, between AS Merko Ehitus Eesti, part of the AS Merko Ehitus Group, and GVP Invest Estonia OÜ was terminated by agreement of the parties.

After the outbreak of the pandemic, the rapidly changing situation in the construction and accommodation market did not speak in favor of starting construction under the pending contract, so the parties decided to terminate the contract.

AS Merko Ehitus Eesti (merko.ee) is a leading Estonian construction company providing construction services in general construction, civil engineering, road, electrical and housing construction.

Further information: AS Merko Ehitus Eesti Chairman of the Board of Directors, Mr. Ivo Volkov, tel. +372 680 5105.

Urmas Somelar
Finantsüksuse juht
AS Merko Ehitus
Phone: +372 650 1250
E-Post: [email protected]

AS Merko Ehitus (group.merko.ee) The group consists of AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenør AS in Norway. In addition to the construction work as a general contractor, the group also focuses on residential construction. At the end of 2020, the group had 666 employees and consolidated sales in 2020 amounted to 316 million euros.

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