Skanska and Costain to build Crossrail station in London
Skanska and Costain have been awarded the Crossrail Paddington Station project. The project will be undertaken in a 50/50 joint venture. The contract value is about GBP 150 M with Skanska’s share amounting to GBP 75 M, about SEK 770 M, which will be included in order bookings for the third quarter.
The new Crossrail Paddington station will be the first station contract to be awarded as part of the Crossrail program to connect east and west London. The new station has been designed to maximize space while preserving the historical features of the main line station Paddington. Work will begin immediately and is scheduled for completion in 2018.
Skanska UK reported revenues of approximately SEK 14 billion in 2010, with about 4,500 employees. The company is active in building and civil construction, utilities and building services. In the UK, Skanska is also a leader in Public Private Partnerships, PPPs, also known as Privately Financed Initiatives, PFIs. Skanska has also initiated the development of homes for the UK market.