Skanska selected for long-term school development program in Bristol - first project valued at about SEK 1.5 billion

Skanska has been selected by Bristol City Council to develop schools in a Public Private Partnerships, PPP, agreement. The first preferred-bidder agreement involves the development of four secondary schools.

The British Government is making a massive investment to modernize the country’s schools. The Government has appointed Bristol to pioneer the “Building Schools for the Future” (BSF) initiative and Bristol City Council has selected Skanska as an exclusive long-term partner to develop the city’s schools. The long-term partnership agreement between Bristol City Council and Skanska Infrastructure Development means that Skanska will develop new and renovated schools, where great importance will be placed on the design of a stimulating learning environment including a large element of IT learning aids. The first project within the framework of the BSF is conducted as a Private Finance Initiative. Skanska Infrastructure Development (the Skanska unit for investments in social infrastructure) is investing GBP 4.8 M, approximately SEK 65 M. The design and build assignment is expected to total GBP 113 M, approximately SEK 1.5 billion. The project covers design, construction, financing and the operation of the facilities for 25 years following their completion. In the next phase, negotiations will be concluded and financing for the project will be arranged. The construction contract will not be signed and included in Skanska UK’s order bookings until these arrangements have been finalized. The Building Schools for the Future program aims to modernize all the compulsory-level and upper-secondary schools in the UK during the next 15-years. The modernization program will comprise projects totaling GBP 2.2 billion, approximately SEK 30 billion, annually. For further information please contact: Alan Gillman, Executive Vice President, Skanska ID, tel +44 20 7842 0788 Tanya Barnes, Head of Communications, Skanska UK, tel +44 1923 423 905 Anna Wenner, Press Officer, Skanska AB, tel +46 8 753 88 99 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.