Skanska reaches financial close on the Rv. 3/Rv. 25 project, Norway, worth NOK 2.6 billion, about SEK 2.7 billion
Skanska has signed the project agreement and reached financial close with the Norwegian Public Roads Administration (NPRA) for the financing, design, construction, operation and maintenance of a new 25 kilometre national road, the Rv. 3/Rv. 25 between Løten and Elverum, in the county of Hedmark, Norway.
The new roads, that will improve the road connection between Oslo and Trondheim, will be the first PPP-project in Norway in more than ten years and is one of Norway’s biggest road projects ever.
Equity and subordinated debt amounts to about NOK 130 M, about SEK 135 M. Skanska Infrastructure Development and Skanska Norway’s Pension Fund are co-investors and hold 50 percent of the shares each.
The PPP-contract will be worth about NOK 5.5 billion, about SEK 5.8 billion, whereof NOK 2.6 billion, about SEK 2.7 billion, relates to the construction contract and will be included in the Nordic order bookings for the second quarter 2018. The concession length is 20 years.
Construction will begin in the second quarter of 2018 and is estimated to be completed in late 2020.
Skanska is one of the leading development and construction companies in the Nordics, with operations in building construction and civil engineering in Sweden, Norway and Finland, and developing residential- and commercial property projects in select home markets. The commercial development stream is also active in Denmark. Skanska offers services in public-private partnerships. Skanska had sales of about SEK 65 billion and more than 15,000 employees in its Nordic operations during 2017.