STOCKHOLM, Sweden, April 08, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has received two contracts to convert a liquid natural gas (LNG) storage terminal on the Isle of Grain, in the Thames Estuary, into an importation facility. The contracts are valued at a total of approximately SEK 1,075 M, GBP 80 M, and are included in order bookings for the first quarter of 2003. The customer is National Grid Transco.
The largest contract is for the design, construction and installation of turnkey facilities to import LNG from specially adapted ships.
This includes the construction of a new jetty on the River Medway to allow ships to dock and unload their LNG cargo. In addition, Skanska will construct a 3.5-kilometer pipeline from the jetty to four large storage tanks, including the foundations and land corridor for the pipeline.
The smaller contract is for modifying the four existing tanks, each with a capacity of 50,000 cubic meters, for the storage of the LNG.
The projects will start immediately and are scheduled to be completed by the end of 2004. The existing gas facilities will continue to operate at full capacity during the construction period.
Skanska's British business unit Skanska UK was awarded these two contracts after first completing a concept study on the project last year. A Skanska UK unit also originally built parts of the Isle of Grain facility in the 1970s.
For further information please contact: Cheryl Eaton, Communications Manager, Skanska UK, tel +44 1923 423030 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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