Skanska Signs Contract with National Grid to Build Tunnel Underneath Humber River

Skanska has, as a part of a joint venture, signed a contract with National Grid to design and construct a tunnel underneath the river Humber on the east coast of Northern England for the Humber Tunnel project. The contract value for Skanska is GBP 40M, about SEK 480M, which will be included in the order bookings for Skanska UK in the second quarter 2016.

The joint venture with the Austrian construction company PORR and A.Hak from the Netherlands brings together international expertise to deliver, in an innovative, sustainable and collaborative way, a five-kilometer tunnel. The tunnel will protect the pipeline for the long term, helping National Grid to provide a vital service to millions of people.

The River Humber pipeline is part of the national transmission system – connecting the import terminal at Easington, on the East Yorkshire coast, to the wider network and delivering gas to millions of customers throughout the UK.

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 discloses the information provided herein pursuant to the Securities Market Act.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totaled SEK 155 billion.

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

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