Skanska secures multi-million order in St. Petersburg
In cooperation (50/50) with Britain’s Taylor Woodrow, Skanska’s Finnish subsidiary, Skanska Oy, has secured an order to build a new transportation and commercial center in St. Petersburg. The value of the order is USD 248 million.
SKANSKA SECURES MULTI-MILLION ORDER IN ST. PETERSBURG
In cooperation (50/50) with Britain’s Taylor Woodrow, Skanska’s Finnish subsidiary, Skanska Oy, has secured an order to build a new transportation and commercial center in St. Petersburg. The value of the order is USD 248 million.
The new 150,000 square-meter transportation and commercial center is the first step towards the establishment of a new express railway service linking St. Petersburg with Moscow. In addition to the terminal, the project includes a new 3-star hotel, offices, residences and parking facilities.
The customer is the Russian railway company, High Speed Railway Shareholding Company. Financial support for the project is expected to be provided by the UK’s Export Credit Guarantee Department and is being arranged by SBC Warburg and Banque Indosuez. Work on the project will begin as soon as the financial arrangements are completed. The order is the largest ever secured by Skanska in Russia.
In St. Petersburg Skanska is, among others, currently building the new Sweden House building, which will be inaugurated in June this year. In Moscow one of the major Skanska projects is the new British Embassy building, which is a joint undertaking with Taylor Woodrow. At the end of March, Skanska had an order portfolio in Russia worth USD 105 million.
Danderyd, May 15, 1997
SKANSKA AB
Group Public Affairs
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