Skanska awarded new projects in Czech Republic valued at SEK 541 M
Skanska’s Czech subsidiary IPS Skanska has received a major rail assignment in the Czech Republic. The contract is valued at SEK 433 M (CZK 1,448 M), of which Skanska’s share is 85 percent, or SEK 368 M. The customer is Czech Railways, the national railway administration. The contract is included in order bookings for the second quarter of 2002.
Press Release
June 7, 2002
Skanska awarded new projects in Czech Republic valued at SEK 541 M
Skanska's Czech subsidiary IPS Skanska has received a major rail assignment in the Czech Republic. The contract is valued at SEK 433 M (CZK 1,448 M), of which Skanska's share is 85 percent, or SEK 368 M. The customer is Czech Railways, the national railway administration. The contract is included in order bookings for the second quarter of 2002.
The new assignment involves a 16-kilometer stretch of railway that is being modernized and upgraded for high-speed trains. The project will be carried out in Olomouc in eastern Czech Republic and includes everything from ground reinforcement to the installation of new control and communications systems. The project also involves the rebuilding of 15 bridges and two new underpasses. Work has begun and is scheduled for completion in September, 2003.
Including this project, IPS Skanska has received rail contracts from Czech Railways this year totaling SEK 468 M.
IPS Skanska also recently received an assignment to execute the groundwork for a new industrial area for the City of Kolin, 60 kilometers east of Prague. The total value of the contract is SEK 346 M (CZK 1,156 M), of which IPS Skanska has about half, or SEK 173 M. The groundwork, covering 120 hectares, is the largest ever in the country, and will be the site of Toyota's new car plant in the Czech Republic. Work will be concluded in August 2002.
IPS Skanska, which is the leading construction services company in the Czech Republic, became part of Skanska in 2000. The company reported sales of SEK 8 billion in 2001, an increase of 17 percent compared with a year earlier. Growth in the Czech construction industry was approximately 10 percent. IPS Skanska has about 6,500 employees.
Later this year, IPS Skanska will change its name to Skanska CZ.
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For further information please contact:
Peter Gimbe, Press officer, Skanska AB,
Tel +46 8 753 88 38