Skanska Signs NOK 390M Construction and Renovation Contract

Skanska has signed a contract with Christiansholm Eiendom AS to build Kvartal 32 in Kristiansand. The contract includes both construction and renovation of a commercial building. The contract is worth NOK 390 M, about SEK 410 M, and will be included in Skanska Norway's order bookings for the fourth quarter 2015.

Kvartal 32 has a gross area of about 29,000 square meters spread over five floors, and two underground floors, suitable for office, retail, hotels and restaurants. Construction will begin in October 2015 and is expected to be completed in the spring 2018.

Skanska Norway focuses on construction and civil engineering operations. The unit has approximately 4,000 employees. In 2014, Skanska Norway reported revenue of SEK 13 billion. In Norway, Skanska is also active in 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 (STO:SKAB) 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 60,000 employees in selected home markets in Europe and in the US. Skanska's sales in 2014 totaled SEK 145 billion.

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Source: http://www.skanska.com

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