Skanska joint venture to build NFL stadium in Houston for USD 348 million, SEK 2.9 billion - subsidiary Beers receives i
Skanska joint venture to build NFL stadium in Houston for USD 348 million, SEK 2.9 billion - subsidiary Beers receives its largest ever order Beers, an American subsidiary of Skanska, and Manhattan Construction Company, based in Dallas, have been commissioned to build Houston Stadium, a new indoor arena in Houston, Texas. With an estimated total value of USD 348 million (SEK 2.9 billion), this will be Beers largest project to date. The assignment will be conducted in the form of a joint venture in which Beers share is 49 percent or USD 170 million, approximately SEK 1.43 billion. The customer is Harris County Sports & Convention Corporation. Houston Stadium is to be built for Houston's new NFL football team, the nd 32 NFL Franchised Team, and will also be the home of the Houston Live Stock Show & Rodeo. "Beers is pleased to be part of the team of experts that will build such a prestigious and unique facility," states Joe A. Riedel, Beers Chairman and CEO. "Manhattan's local knowledge, presence and expertise, along with Beers national sports experience, make this a winning partnership." The 2 million square foot facility with a seating capacity of approximately 70.000 will be the largest NFL stadium to date and the first NFL stadium with a retractable roof. The cost is estimated at USD 348 million, but the construction team will value engineer and examine constructibility issues to determine ways to lower costs and meet earlier estimates. The Houston Stadium project will be complete for the opening of the 2002 NFL season and is the most reent in a long list of Beers high-profile sports projects. Beers recently completed Nashville's Adelphia Coliseum and Atlanta's Philips Arena. Other sports projects in Beers extensive portfolio include Turner Field, the 1996 Centennial Olympic Stadium and the Georgia Dome. Beers had sales of SEK 11.4 billion in 1998. The company is part of Skanska USA, which reported an order backlog of SEK 56 billion after the first nine months of 1999. Stockholm, January 14, 2000 Skanska AB Group Communication For additional information, contact: Marlene Nieman, Director Corporate Communications, Beers Construction Company, tel +1 404- 659-1970 This and previous releases are also available on www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/14/20000114BIT00220/bit0001.doc http://www.bit.se/bitonline/2000/01/14/20000114BIT00220/bit0002.pdf