Skanska lands highway order in Finland
Skanska and the Finnish Road Administration, FINNRA, have today signed an agreement in Helsinki regarding the first private financed highway construction in the Nordic Countries - a highway connecting Helsinki and Lahti.
SKANSKA LANDS HIGHWAY ORDER IN FINLAND
Skanska and the Finnish Road Administration, FINNRA, have today signed an agreement in Helsinki regarding the first private financed highway construction in the Nordic Countries - a highway connecting Helsinki and Lahti.
The project is valued at USD 230 M and involves construction of nearly 70 kilometers of highway, operation and maintenance for 15 years as well as financing. After the contract period, the road will be handed over to FINNRA.
A project company, Tieyhtiö Nelostie Oy, has been established for this project by Swedish Skanska AB and its Finnish subsidiary Skanska Oy.
Besides Skanska, the British Hyder Investments and the Finnish Industrial Insurance, Pension-Varma and the electricity corporation of the City of Espoo are the equity investors of project company. Finnish Postipankki and the Nordic Investment Bank are senior lenders.
Construction is estimated to start in the beginning of May and shall be opened for traffic by September 1, 2000. The construction work will be done by Skanska Oy and Tekra Oy in a joint venture.
Danderyd, March 19, 1997
SKANSKA AB
Group Public Affairs