Skanska to Upgrade a Junction of M25 Highway for UK's Highways Agency

Skanska UK, in joint venture with Balfour Beatty, has been awarded a construction contract to upgrade a junction of the M25 highway for the UK's Highways Agency. The contract is worth GBP 56 M in total, about SEK 631 M, of which Skanska's share amounts to GBP 28 M, about SEK 316 M. Skanska will include the order in the order bookings for Skanska UK in the fourth quarter of 2014.

The 50:50 joint venture Balfour Beatty Skanska is a construction partner to Connect Plus, the company responsible for managing and upgrading the M25 highway and has already delivered GBP 1.3 billion, about SEK 15 billion, worth of “smart” highway upgrades to 117 kilometers of the M25 since 2009. The work on junction 30 will provide enhancements to the highway as part of a project to reduce congestion and supporting Government's National Infrastructure Plan.

Work is due to start in January 2015 and is scheduled to conclude by 2017.

Skanska UK reported revenues of about SEK 13 billion in 2013. It has around 5,000 employees. The company is active in building and civil construction, utilities and building services, as well as facilities management and commercial development. In the UK, Skanska is a leader in public private partnerships, PPPs, also known as Privately Financed Initiatives, PFIs.

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 premises, and public-private partnership projects. Based on its global green experience, Skanska aims to be the client’s first choice for green solutions. The group currently has 57,000 employees in selected home markets in Europe and the US. Skanska's sales in 2013 totaled SEK 136 billion.

Source: http://www.skanska.com/

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