Skanska to construct railway in Norway

Skanska Norway has signed a contract with Jernbaneverket for construction of nine kilometers of railway between Farriseidet, Larvik, to Telemark municipality border, Norway. The contract is worth NOK 1.34 billion, about SEK 1.5 billion, and will be included in the order bookings for Skanska Norway for the second quarter 2013.

The project, UFP01 Vestfold, is the third of four enterprises in the extension project Farriseidet-Porsgrunn and will be carried out as an internal cooperation between Skanska Norway and Skanska Sweden.

Works are scheduled to commence in June 2013 and will be completed in August 2016.

Skanska Norway focuses on construction and civil engineering operations. The unit has approximately 4,500 employees. In 2012, Skanska Norway reported revenue of SEK 12.5 billion. In Norway, Skanska is also active in the development of residential, commercial properties and public private partnerships (PPP) projects.

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 57,000 employees in selected home markets in Europe, in the US and Latin America. Skanska’s sales in 2012 totaled SEK 132 billion.

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Source : Business Wire

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