STOCKHOLM, Sweden, April 09, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has secured two new projects in California. Valued at a total of SEK 800 M or US $92.7 M, the contracts will be included in order bookings for the first quarter of 2003.
The contracts have been awarded to Yeager Skanska, the new Los Angeles- based unit within Skanska USA Civil.
The larger of the two projects is the Prado Dam extension. The contract is worth US $67.4 M and involves elevating the dam's crest by 10 meters and constructing a new inlet tower to the power station.
The Prado Dam is located on the Santa Ana River 30.5 miles (49 kilometers) upstream from the Pacific Ocean and west of Corona in Los Angeles, California. The project will start in April and is set to be completed at the end of 2006. The customer is the U.S. Army Corps of Engineers.
Yeager Skanska has also received a contract to build a highway bridge on the Pacific Coast Highway in Wilmington, California. This contract is valued at US $25.4 M. The customer is Alameda Corridor Transportation Authority.
The 800-meter-long elevated highway crossing is built on CIDH piles and pre-cast, prestressed bulb T-beams over Alameda Corridor railway that stretches through Los Angeles to the Port of Los Angeles and Port of Long Beach. The new bridge diverts car traffic above the railroad. The project aims to increase safety, improve traffic flow and reduce emissions.
The project also includes paving work and installations. Work will begin in May, with the bridge scheduled to open for traffic in the spring of 2004. The project is scheduled for completion in the summer of 2004.
Yeager Skanska, which was acquired in 2002, specializes in road construction and civil engineering projects. The company is a unit within Skanska USA Civil, which through the acquisition has gained nationwide coverage in the U.S. infrastructure market.
Skanska USA Civil increased its order bookings by 9 percent in 2002 and posted sales of SEK 13 billion. At year-end, Skanska USA Civil had an order backlog of SEK 22 billion. The company has performed several construction projects in California, including the recently completed BART rail extension in San Francisco and the renovation and seismic retrofitting of the Richmond-San Raphael Bridge, which is currently underway.
For further information please contact: Stephanie Infranco, Communciations Manager Slattery Skanska tel +1 718 767 2600 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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