Peab to build the largest hotel in Europe in Gothenburg

Peab to build the largest hotel in Europe in Gothenburg

Peab has signed a partnering contract with Svenska Mässan, the Swedish
Exhibition Centre, concerning an extension of Hotel Gothia Towers in Gothenburg.
The client is Svenska Mässan Stiftelse.

The partnering contract involves extension of Hotel Gothia Towers with a third,
29 floors high hotel tower and six floors additional storey on top of one of the
existing towers. Hotel Gothia Towers will get an addition of 500 new rooms and
after the extension it will be the largest hotel in Europe with 1 200 rooms. 

The partnering cooperation is divided in three periods and Peab has already
started the initial project planning. On condition that the project purposes of
both parts are achieved, the cooperation will continue and the building process
can start during the second part of 2008, when the final order amounting to
about SEK 580 million will be signed. The extension of Hotel Gothia Towers is
estimated to be ready during 2010.


For further information contact:
Tore Hallersbo, division manager Peab +46 733 37 20 00
Gösta Sjöström, information manager Peab +46 733 37 10 10

Previous press releases from Peab are available at www.peab.com


Peab is one of the leading construction and civil engineering companies in the
Nordic countries with a net sale exceeding SEK 30 billion and approximately
12,000 employees. The Group's subsidiaries have strategically located offices in
Sweden, Norway and Finland. The share is listed on the Nordic Exchange. The
registered office of the Group is at Förslöv, Skåne in south of Sweden.