Skanska secures road-construction project in London for SEK 800 M, of which Skanska has 50-percent share

Press Release

 

November 20, 2000   Skanska secures road-construction project in London for SEK 800 M, of which Skanska has 50-percent share

 

Skanska has secured a contract to design and extend the A43 motorway, northwest of London in the UK. The order is valued at a total of GBP 56.6 M or approximately SEK 800 M. Skanska’s share is valued at approximately SEK 400 M. This is a 50-50 joint project with the UK construction company, Costain. The customer is the UK Highways Agency. The project comprises a new 8-kilometer bypass around the Silverstone racetrack and the widening of the A43 motorway along two stretches totaling 11 kilometers. It is anticipated that the new, wider traffic routes will increase road safety and result in fewer accidents, thus saving three lives per year. Work will commence early next year and is scheduled for completion during 2002. The new road project was prepared before Skanska carried out its acquisition of the Kvaerner Construction Group, which now represents Skanska in the UK. "We will fulfill our commitments to Skanska and Costain’s joint customers and partners. The same applies to ongoing projects and current bids, which will be conducted as planned," says Lars Johansson, President of Skanska UK. Following the latest acquisition, Skanska is the fifth-largest construction services company in the UK. _________________________________________________ For further information please contact: Lars Johansson, President, Skanska UK, Tel + 44 7899 793051