STOCKHOLM, Sweden, March 24, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has been contracted to construct a highway tunnel in Slovakia. The contract is valued at SEK 770 M (SKK 3.5 billion), of which Skanska's share amounts to SEK 385 M. The customer is the Slovakian road administration, Slovenska sprava ciest. The contract is included in order bookings for the first quarter of 2003.
The project is being carried out by Skanska's Czech subsidiary, Skanska CZ, in a 50/50 consortium with the Japanese TAISEI Corporation. The tunnel construction is being financed through loans from the Japanese export credit bank, Japan Bank for International Cooperation, JBIC.
The project comprises a highway tunnel in Bratislava, the capital of Slovakia. The tunnel will link the highways D1 to Brno and D2 to Vienna. The two tunnel tubes will each be 1,450 meters in length. The project also includes three multi-level interchanges, connecting roads and six bridges.
Work at the site begins in April, with completion scheduled for March 2007.
Skanska CZ is the largest construction company in the Czech Republic, with sales in 2002 of about SEK 7 billion, of which 4 percent in the growing Slovakian market. Skanska CZ recently strengthened its position in underground construction with the bolt-on acquisition of the Slovakian tunneling company Banske Stavby. (See press release dated February 20, 2003.)
For further information please contact: Arne Kejdana, Communications Manager, Skanska CZ, tel +420 267 095 444 Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38
This and previous releases can also be found at www.skanska.com
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