Skanska sells its equity stake in the highway project Rv. 3/Rv. 25 in Norway for about NOK 30 M, about SEK 30 M
Skanska has divested its equity stake of 50 percent in the PPP project Rv. 3/Rv. 25 in Norway to Skanska Trean Allmän Pensionsstiftelse for about NOK 30 M, about SEK 30 M. Thus, Hedmarksvegen A/S that is responsible for the PPP project is now jointly owned by Skanska Norway's pension fund and Skanska Trean Allmän Pensionsstiftelse. The transaction will be recorded in the fourth quarter of 2019.
The sale also includes the responsibility of the investment commitment from the shareholders which will be done in connection to construction completion of Rv. 3/Rv. 25.
The Rv. 3/Rv. 25 project is a new 25 kilometer national road between Løten and Elverum in the county of Hedmark. It includes 15 kilometers of four-lane highway, 7 kilometers of walkways and bike paths, a new traffic station for the road administration and about 30 constructions, including two major transitions, for the wildlife. The new roads, that will improve the connection between Oslo and Trondheim, is the first PPP-project in Norway in more than ten years and is one of Norway’s biggest road projects ever.
The project is built with ambitious goals for sustainability and will be certified according to CEEQUAL, an international classification standard for construction and infrastructure projects.
Construction is underway and the project 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 had sales of about SEK 67 billion and more than 15,500 employees in its Nordic operations during 2018.