Skanska secures contract worth USD 42 M, SEK 410 M, in Moscow
Skanska secures contract worth USD 42 M, SEK 410 M, in Moscow Skanska has secured a new major order in Russia valued at USD 42 M, or around SEK 410 M. Skanska will be responsible for the construction of the Alfa Arbat Center, a new office and commercial complex in central Moscow. The customer is ZAO Syracuse, which is part of the Alfa Group in Russia. Located in downtown Moscow, the Alfa Arbat Center will consist of retail stores at ground level and office accommodation throughout the remainder of the eight-storey building, which covers a total of 42,000 square meters of space. The complex will also include a separate four-storey underground parking garage. Technically, the project is highly demanding, since parts of the office center will be built directly above the Arbatskaya subway station. "Demand in the Russian market will increase once again following several years of economic problems. I am convinced that Skanska's decision to persevere with this market will eventually bear fruit," says Martti Rautee, President of Skanska East Europe Oy. In addition to ZAO Syracuse, the Alfa Group also consists of the Alfa Bank, the integrated oil company Tyumen Oil Company, the Alfa Development real estate company and the Moscow supermarket chain Perekryostok. Earlier this year, Skanska completed the Sports Palace in St. Petersburg to host the Year 2000 Ice Hockey World Championship. Skanska projects completed in Moscow last year included the first IKEA furniture store and the new British Embassy. For further information please contact: Martti Rautee, President, Skanska East Europe Oy, Tel +358 9 6152 2203 Tapio Korkka, Senior Vice President, Skanska East Europe Oy, Tel +358 9 6152 2920 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/20/20001220BIT00650/bit0001.doc http://www.bit.se/bitonline/2000/12/20/20001220BIT00650/bit0002.pdf