Skanska builds school in Norway for NOK 363 M, about SEK 425 M

2/11/2013 11:00 AM CET
Press release

Skanska has signed a contract with the Oslo municipality for construction and maintenance of a new school on Veitvet. The contract is worth in total NOK 363 M, about SEK 425 M. The transaction is booked by Skanska Norway in the first quarter of 2013.

The project is a Bundled Construction, through which Skanska has utilized the Group’s financial strength to create new business opportunities. The concept has been applied earlier in the development and construction of premises for various public authorities.

Skanska will develop, construct and take care of maintenance the next 25 years, and has signed a contract with the Oslo municipality for leasing the school over the same period, with a possible prolongation. The construction will start during spring 2013 and the school is planned to be opened for school start 2015.

Skanska Norway focuses on construction and civil engineering operations. The unit has approximately 4,500 employees. In 2011, Skanska Norway reported revenue of SEK 12.5 billion. In Norway, Skanska is also active in the development of residential, commercial properties and public private partnerships (PPP) projects.