Skanska to construct new phases of logistics center in Sipoo, Finland, for EUR 74 M, about SEK 660 M

6/27/2014 8:00 AM CET
Press release

Skanska has, in joint venture with Lemminkäinen, signed a contract with S Group to construct the last three phases of a new logistics center for daily consumer goods in Sipoo, Finland. Skanska and Lemminkäinen have equal shares in the joint venture company Freeway. The total contract value is approximately EUR 148 M, about SEK 1.3 billion. Skanska’s share is EUR 74 M, about SEK 660 M, which will be included in order bookings for Skanska Finland in the second quarter 2014.

The logistics center is currently one of the largest construction projects in Finland. It will have a surface area of about 189,000 square meters and a capacity of around 3,400,000 cubic meters. Phases III and IV cover the storage facilities for refrigerated foods and phase V the facilities for frozen foods.

Construction of the logistics center began in June 2013, and will be completed 2018.

Skanska Finland is one of the leading construction companies in Finland. The company is active in building construction, residential and commercial premises, as well as civil engineering projects. The combined sales for Skanska Oy’s operations in 2013 were SEK 7.1 billion and the company employed about 2,190 people. In Finland, Skanska is also active within development of residential, office and PPP projects.