New contracts and acquisition for Skanska

19 October 2011

Johan Karlström, president and CEO at Skanska

Johan Karlström, president and CEO at Skanska

Swedish contractor Skanska has won SEK5.2 billion (€572 million) worth of contracts since the start of October and has also acquired a Finnish construction company, Soraset Yhtiöt Oy, for an undisclosed price.

Civil infrastructure contractor Soraset Yhtiöt Oy Skanska recorded net revenues of €100 million last year.

Meanwhile, the most lucrative new contract award won by Skanska so far in October was an SEK2.4 billion (€264 million) deal to construct the final phase of the City University of New York Advanced Science Research Campus at City College in Manhattan, US.

The company also won a railway and tunnelling contract in Norway worth SEK1.6 billion (€176 million). The project involves constructing a double track high-speed rail line on the Vestfold Line between Drammen and Porsgrunn, and includes building a 2.4km long tunnel and a station hall measuring 866m long.

Other new contract awards include a SEK512 million (€56 million) contract to complete the renovation of a research and development laboratory in Kenilworth, New Jersey, US, and a SEK440 million (€48 million) road building contract in Poland for a stretch of the S8 express road near Łódź and the A1 motorway near Wrocław.

This month Skanska also won a SEK310 million (€24 million) contract in Poland to construct bridges and access roads near Wrocław.

The news comes after Skanska won two separate construction contracts in September worth a total of US$ 596 million (€432 million) to develop sections of the New York subway system.

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