STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Skanska's 50-percent owned subsidiary Gammon Skanska has been contracted to build a large office complex in Hong Kong. The contract is valued at HKD 870 M, about SEK 1,140 M. Skanska's share amounts to SEK 570 M. The customer is Swire Properties.
The contract is included in order bookings for the second quarter of 2002.
The 40-story Pacific Forum complex will be constructed on One Queen's Road East in Wan Chai district of Hong Kong. The office tower totaling 58,000 square meters includes a 3-story basement retail area and car park. Work begins immediately and is scheduled for completion in mid- 2004.
Swire Properties is a repeat customer for Gammon Skanska. The companies have worked closely together on a number of commercial and residential development projects for many years. One of the largest was TaiKoo Place, comprising more than 200,000 square meters and valued at HKD 3 billion.
Swire Properties and Gammon Skanska will develop a partnering framework for the new project. Jointly, the companies will apply a total approach to ensure high productivity and quality and to minimize environmental impact.
Gammon Skanska, one of Asia's leading construction services companies, has been a member of the Skanska Group since 2000. The Hong Kong-based company is also active in China, Singapore, Malaysia and Thailand. Gammon Skanska has about 2,500 employees, with sales of about SEK 5 billion in 2001.
For further information please contact:
Candy Chan, Manager Corporate Communications, Gammon Skanska, tel: +852 2516 8733 Tor Krusell, Senior Vice President, Corporate Communications, Skanska AB, tel +46 8 753 87 47
This and previous releases can also be found at www.skanska.com
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