Skanska Receives USD 142 M, SEK 1 Billion Order in Boston

Stockholm, SWEDEN


STOCKHOLM, Sweden, Dec. 8, 2005 (PRIMEZONE) -- Skanska will serve as the general contractor for building services in the construction of the hotel and residential complex at the historic Battery Wharf harbor area in Boston, Massachusetts, in the U.S. The contract amounts to USD 142 M, SEK 1,052 M. The order value is included in fourth-quarter order bookings. The customer is the Development Management Corporation, the project developer.

Work will begin immediately and is scheduled to be completed in the fourth quarter of 2007. Skanska USA Building was awarded the building contract after having been involved at an earlier stage in pre-construction planning and estimating services for the project.

The development will include a total of 44,000 square meters, with 104 luxury condominiums and a 150-room hotel managed by Regent International Hotels. In addition, there will be a spa/fitness center, restaurant, shops, parking facility and a marina linked to the project. The residences will feature one- to three-bedroom apartments with state-of-the-art appliances, equipment and fittings.

Battery Wharf is being built on the waterfront in the historic section of Boston, with remarkable views of the Bunker Hill Monument and U.S.S. Constitution museum ship.

Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2004 totaled SEK 121 billion, USD 17 billion.

This and previous releases can also be found at www.skanska.com

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