Skanska constructs and redevelops defence sites in UK, for GBP 250 M, about SEK 2.7 billion
Skanska has signed a design and construction contract to build the new Defence College of Logistics, Policing and Administration at Worthy Down in Hampshire, UK, along with supporting infrastructure and accommodation. Skanska will also act as development manager for the redevelopment of the Princess Royal Barracks, Deepcut site in Surrey where approximately 1,200 homes, a school and other facilities will be built. The total contract value is approximately GBP 250 M, about SEK 2.7 billion, which will be included in order bookings for Skanska UK for the second quarter of 2014.
Work is due to start in June 2014 and to conclude at Worthy Down in the summer of 2018.
Skanska UK reported revenues of about SEK 12 billion in 2013. It has around 5,200 employees. The company is active in building and civil construction, utilities and building services, as well as facilities management and commercial development. In the UK, Skanska is a leader in public private partnerships, PPPs, also known as Privately Financed Initiatives, PFIs.