Skanska reaches financial close for M25, London’s Orbital Road
5/22/2009 8:33 AM CET
Skanska, as part of Connect Plus, has reached financial close for the widening of the M25 orbital road around London. The project is being carried out as a Public Private Partnership (PPP) and Skanska is part of the team responsible for the Design, Build, Finance and Operate (DBFO). This means that:
- Skanska receives a construction contract amounting to about GBP 500 M, about SEK 6 billion, which will be included in order bookings for the second quarter.
- Skanska will invest GBP 80 M, about SEK 965 M, throughout the construction period, corresponding to a 40-percent interest in Connect Plus