STOCKHOLM, Sweden, June 15, 2005 (PRIMEZONE) -- Skanska, as part of a consortium, has been selected by the Finnish National Road Administration, Finnra, for the construction of a section of the E18 expressway in Finland. The project will be implemented as a public-private partnership project, which means that the Skanska consortium will be responsible for designing, constructing and operating the expressway, and will also be involved in arranging the financial solution.
Final negotiations between the consortium, Tieyhtio Ykkostie, and Finnra will now take place. The Finnish National Road Administration estimates that it will be possible to sign the contract at the end of August. The assignment will not be included in Skanska's order bookings until this has occurred.
Finnra estimates that the total budget for the project will be approximately EUR 700 M, of which construction costs are estimated at EUR 300 M. The remuneration paid to the consortium will be based on availability and traffic safety.
The contract period is for 21 years, starting when the expressway is opened. Construction is scheduled to commence in the autumn and the road is expected to be open for traffic in November 2008.
The project comprises approximately 51 kilometers of the E 18 between Muurla and Lohja, which is the final phase of the Turku-Helsinki section. The project includes a large number of bridges and approximately five-kilometer of tunnels.
In addition to Skanska BOT, the Tieyhtio Ykkostie consortium consists of Laing Roads Ltd of the United Kingdom and Lemminkainen Oyj of Finland. Skanska Finland and Lemcon, a subsidiary of Lemminkainen, will undertake the construction assignment.
Since 1997, Skanska BOT, through the Nelostie consortium, has been a joint owner of Finland's first public-private partnership road project, the expressway between Helsinki and Lahti, which Skanska constructed and also has responsibility for its operation and maintenance.
For further information please contact:
Anna Wenner, Press Officer Skanska AB, +46 8 753 88 99
This and previous releases can also be found at www.skanska.com
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