Skanska to construct cable tunnels in London for GBP 92 M, approximately SEK 970 M

Skanska will construct a tunnel for power transmission in the London area. The contract amount is GBP 92 M, about SEK 970 M, which will be included in 2010 fourth-quarter order bookings.

The customer is the construction company Costain, who are working on behalf of the international gas and electricity company National Grid. 

The project relates to the construction of 33 kilometers of high-voltage electricity cable tunnels between Hackney and Willesden and between Kensal Green and Wimbledon in southwest London. The cable tunnels, which will be three and four meters in diameter, will help provide continued safe and secure electricity supplies for central London. The assignment also includes the construction of access shafts and head houses for electrical equipment.

Construction work will commence in 2011 and tunneling will be completed by the end of 2014. The entire project with all associated works will be completed during 2018.

Skanska is the leading green company in the UK and has received the Sunday Times Best Green Company Award.
 
Skanska UK reported revenues of SEK 18 billion in 2009, with about 4,800 employees. The company is active in building and civil construction, utilities and building services. In the UK Skanska is also a leader within the sector for Public Private Partnerships, PPP, also known as Privately Financed Initiative, PFI.

For further information please contact:
Tanya Barnes, Head of Communications, Skanska UK, tel +44 1923 423 905
Per-Lennart Berg, Press Officer, Skanska AB, tel +46 10-448 88 28 Direct line for media: +46 10-448 88 99

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

Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act.

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. Based on its global Green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 49,000 employees in selected home markets in Europe, in the US and Latin America. Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2009 totaled SEK 137 billion.