STOCKHOLM, Sweden, June 23, 2005 (PRIMEZONE) -- Skanska will build, modernize and operate two Oslo schools. The project is the first within public-private partnering (PPP) for schools. Skanska is being contracted for construction and maintenance services for a total of about SEK 600 M, but is not involved as an investor in the school project.
Most of the construction contract, which totals SEK 460 M, will be included in order bookings for the second quarter of 2005. The value of the operating and maintenance assignment is currently estimated to be a total of SEK 140 M and is included separately in order bookings from year to year.
Skanska Norway's customer is SG Finans AS, which has assumed ownership responsibility for the two schools, Hoeybraten and Persbraten, from the Oslo Municipality under a 24-year contract. Thereafter, the schools will be bought back by the municipality at a price corresponding to one year's rent. The municipality continues to be fully responsibility for the schools' educational operations. Skanska is the construction partner of SG Finans AS in the school project, but Skanska will not participate as an investor.
The project comprises a total of 20,000 square meters and involves new construction as well as renovation. The Persbraten school will be demolished and replaced with new school buildings for the start of school in autumn 2007. The work with the Hoebraten's school involves both modernization and new construction.
Construction work starts in September and the first school is scheduled to be completed for the start of school in autumn 2007. The work at the other school will be completed during the winter of 2007-2008.
Skanska Norway and Skanska BOT are currently carrying out Norway's first PPP highway project. The 27-kilometer section of the E39 highway south of Trondheim on the Norwegian west coast will open at the end of June, two months ahead of schedule. Skanska's construction assignment for this project is valued at SEK 1.6 billion. Skanska BOT is one of the investors in the ownership consortium that will be responsible for the highway for 25 years.
Skanska Norway's net sales in 2004 amounted to NOK 8.6 billion. The business unit's has about 4,300 employees.
Skanska is one of the world's leading construction groups with expertise in construction, project development of commercial and residential projects and public-private partnerships. Skanska is committed to finding innovative solutions by cooperating closely with customers and combining the company's international expertise with local presence. The Group currently has 53,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2004 totaled SEK 121 billion.
This and previous releases can also be found at www.skanska.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=110315&fn=wkr0001.pdf
-0-
Pia Farstad, Senior Vice President Communications, Skanska Norway
tel +47 92 25 11 11
Peter Gimbe, Senior Vice President Communications, Skanska AB
tel +46 8 753 88 99