Skanska wins hat trick of rail contracts in Hong Kong with a total value of GBP 204 million, Skanska's share is GBP 64 m

Skanska wins hat trick of rail contracts in Hong Kong with a total value of GBP 204 million, Skanska's share is GBP 64 million, or SEK 940 million Skanska's Hong Kong-based Company, Gammon Construction, in which Skanska holds a 50 per cent interest, has won a hat trick of rail contracts with a combined value of GBP 204 million. Skanska's share of the contract value is GBP 64 million, approximately SEK 940 million. Awarded by the Kowloon Canton Railway Corporation, all of the projects are on the Tsim Sha Tsui section of its East Rail Extension scheme. The largest, worth GBP 125 million, will be carried out in a 50/50-joint venture with Nishimatsu Construction and is for the construction of the new Tsim Sha Tsui Station. Cut and Cover tunnels, constructed in a GBP 51 million scheme, will extend the route by 1km from the new station to Hung Hom Station beneath buildings and a children's playground. The third project, worth GBP 28 million, is also being carried out in a 50/50-joint venture with Nishimatsu Construction. This involves constructing pedestrian subways and a road underpass below existing roads to link the new Tsim Sha Tsui Station to the nearby Nathan Road Mass Transit Railway Station. These contracts follow the announcement ten days ago of a GBP 116 million scheme for a new rail depot and take the total value of projects Gammon Construction has secured with the Kowloon Canton Railway Corporation to GBP 320 million this year. Skanska's share amounts to GBP 122 million, approximately SEK 1.8 billion. Skanska acquired 50 per cent of Gammon Construction last year. Gammon is one of the largest construction companies in Hong Kong, and also has extensive operations in mainland China and Singapore. For further information please contact: Cheryl Eaton, PR Manager Skanska Construction, Tel +44 1923 423030 Tor Krusell, Senior Vice President Skanska AB, Tel +46 8 753 87 47 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/2001/03/23/20010323BIT00260/bit0003.doc http://www.bit.se/bitonline/2001/03/23/20010323BIT00260/bit0003.pdf