Network Rail Awards Northern Hub Project Contract to Skanska BAM Nuttall Team

Skanska, in joint venture with BAM Nuttall, has been awarded a contract by Network Rail for the Northern Hub project in Manchester. The value to Skanska over the course of the contract will be in excess of GBP 74 M, about SEK 900 M, which will be included in order bookings for Skanska UK in the first quarter 2016.

The joint venture is working as part of an integrated alliance, following an early contractor phase. The alliance will be responsible for the delivery of the Orsdall Chord which will link Manchester Victoria and Manchester Piccadilly stations for the first time in history, as well as helping deliver faster and more frequent train service. The contract runs from 2016 to 2019.

The Skanska BAM Nuttall team will bring a collaborative approach to the contract that will support Network Rail to deliver its rail upgrade plan for the north, helping to increase connectivity across towns and cities and enable the UK government’s so called Northern Powerhouse initiative to boost economic growth in the north of the country.

Skanska UK reported revenues of about SEK 18 billion in 2015. It has around 5,500 employees. The company is active in building and civil construction, utilities and building services, as well as facilities management and commercial development.

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 partnerships projects. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totalled SEK 155 billion.


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