STOCKHOLM, Sweden, June 27, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has secured three contracts valued at a total of SEK 507 M (GBP 38 M), which are included in order bookings for the second quarter of 2003. The contracts are for upgrading wastewater treatment plants, sections of London's underground system and the infrastructure for a railroad telecom network.
Skanska has been contracted by Network Rail, which is responsible for the national telecom network for British Railways, to design and build the infrastructure to upgrade the network across north Lincolnshire. Work begins immediately and is scheduled to be completed in one year. This assignment is valued at SEK 240 M (GBP 18 M).
Skanska U.K. has also signed a five-year framework deal valued at SEK 133 M (GBP 10 M), to upgrade cuttings and embankments alongside parts of London's underground system. The customer is Tube Lines, which is responsible for track and station management on the Piccadilly, Northern and Jubilee lines. Through a 30-year PPP contract (Public Private Partnering), Tube Lines is responsible for 300 km, 187 miles, of track, including 100 subway stations.
Under an existing framework contract with Anglian Water, Skanska has been awarded new projects valued at SEK 133 M (GBP 10 M). The new work includes to renew and upgrade some ten wastewater treatment plants from Humber to Thames in eastern England. Initially a three-year framework agreement with Anglian Water, this was recently extended to four years and Skanska is already doing preliminary work on additional projects of the same type. The assignments are part of the British Environment Agency's AMP3 program to increase water quality in rivers and coastal areas.
Skanska U.K. is one of the largest construction companies in the U.K., with sales of SEK 21 billion. Skanska U.K. holds a leading position in PFI work (Private Finance Initiative). Currently Skanska U.K. has contracts worth around SEK 13 billion, GBP 1 billion, of PFI work.
For further information please contact:
Cheryl Eaton, Communications Manager, Skanska UK, tel +44 1923 423 030
Lars Johansson, Acting Head of Corporate Communications, Skanska AB, tel +46 8 753 88 74
This and previous releases can also be found at www.skanska.com
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