Skanska awarded an additional GBP 24M, about SEK 320M, towards works on the A428 road in the UK

Skanska has been awarded an additional GBP 24M, about SEK 320M, under its existing contract with National Highways towards works on a new 16-kilometer dual carriageway on the A428 road in the East of England. This will be included in the order bookings for Europe in the fourth quarter 2023.

The award relates primarily to increased costs caused by a legal challenge to the scheme. These costs relate to a delay to the start of construction and the associated impact of high inflation.

The total contract, now valued at GBP 679M, about SEK 9.0 billion, involves the design and construction of a new 16-kilometer dual carriageway between the Black Cat roundabout in Bedfordshire and Caxton Gibbet roundabout in Cambridgeshire. A number of junction improvements will be made, including a new three-tier junction at the Black Cat roundabout allowing free flowing traffic onto the A1 and the new carriageway.

The scheme will deliver significant benefits by preventing delays and increasing capacity along the route. It will also contribute to unlocking the potential for longer term economic growth in the wider Oxford-Milton Keynes-Cambridge areas which have been identified by the Government as a key national priority.

Skanska has received Notice to Proceed from National Highways, meaning that main construction can begin before the end of year. The scheme is due to open for traffic in 2027.

For further information please contact:

Louisa Perry, Head of Corporate Communications, Skanska UK, tel +44 7407 802 546

Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

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

Skanska Group uses knowledge & foresight to shape the way people live, work, and connect. Over 135 years in the making, we’re one of the world’s largest project development and construction companies, with 2022 revenue totaling SEK 162 billion. We operate across select markets in the Nordics, Europe and USA. Together with our customers and the collective expertise of our 28,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.