Skanska appointed preferred bidder to develop M25 highway around London within the PFI program

Skanska can confirm it has today, as part of the Connect Plus consortium of which the company has a 40 percent stake along with its partners, Balfour Beatty (40 percent), Atkins (10 percent) and Egis (10 percent) formally been appointed preferred bidder for the development of the M25 highway around London. This release follows the announcement made on May 8th 2008 by the British Highways Agency that the consortium had been appointed provisional preferred bidder.

As part of the consortium, Skanska Infrastructure Development will be responsible for the development and management of the project together with its three partners for a period of 30 years.

The design and construction will be undertaken by Skanska UK and Balfour Beatty in a 50/50 joint venture.

In the next phase negotiations will be concluded and financing for the project arranged. Financial close is expected to be reached at the end of the year.

Following financial close, Skanska will make a further announcement stating its investment levels in the project together with the value and timing of the construction contract to be included in the company’s order bookings.

Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.

Skanska UK reported revenues of SEK 17.7 billion in 2007, with about 5,500 employees. The company is active in building and civil construction, utilities and building services. Skanska is also a leader in the British program for private public partnerships, PFI (Private Finance Initiative).


For further information please contact:

Tanya Barnes, Head of Communications, Skanska UK,
tel +44 1923 423 905
Hans Biörck, Executive Vice President and CFO, Skanska AB, tel +46 8 753 8800
Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38
Direct line for media: tel +46 8 753 88 99