Skanska and Costain begin work on London project valued at SEK 390 M
Skanska and Costain have begun work on an office project in London valued at approximately SEK 390 M (GBP 30 M). The contract is for an office development project at Northgate House in Moorgate, situated in the center of London's business district.
PRESS RELEASE, JANUARY 21, 1999 08/99 Skanska and Costain begin work on London project valued at SEK 390 M Skanska and Costain have begun work on an office project in London valued at approximately SEK 390 M (GBP 30 M). The contract is for an office development project at Northgate House in Moorgate, situated in the center of London's business district. Skanska and Costain's assignment in the first stage of the project, valued at about SEK 10 million, involves coordination of the design process. A letter of intent covering continued implementation of the project, at a total value of GBP 30 million, about SEK 390 million, has been signed. The customer is MEPC, one of Great Britain's leading developers of commercial properties. Skanska's share of the project is 50%. The project management assignment will involve total implementation, from design to construction of the 23,000-square meter building. The Skanska-Costain consortium's business concept is to offer the principal total service for the project development, from original concept to construction and occupancy. The eight-story Northgate House construction project will include a double basement and steel-framed structure with concrete floors. The building will be clad in hand-set Portland stone and brickwork. Construction will begin immediately and is scheduled for completion in the summer of 2001. "The new order underlines our progress in Great Britain," says Lars Johansson, Managing Director of Skanska UK. "During slightly more than one year of cooperation with Costain, we have received orders valued at approximately GBP 100 M (about SEK 1.3 billion) from several highly demanding and prestigious customers. Among other projects, we are now working on construction of the new city center in Uxbridge, near Heathrow, a contract valued at SEK 930 M."
Danderyd, January 21, 1999 SKANSKA AB
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