Skanska to build € 1,52 billion hospital

By Chris Sleight30 June 2010

Skanska has reached financial close on the contract to design and construct the New Karolinska Solna university hospital to the northwest of Stockholm, Sweden. The contract is worth SEK 14,5 billion (€ 1,52 billion) and is the first health project in Sweden to be built on the Public Private Partnership (PPP) model.

The project is the largest in Skanska's history and will be jointly carried out by its Swedish and UK divisions. The order will be booked in the company's second quarter accounts, with 70% allocated to the Swedish subsidiary and 30% to Skanska UK. Construction is due to start this summer.

Skanska, through its Skanska Infrastructure Development subsidiary, has invested SEK 600 million (€ 63 million) into the project company, Swedish Hospital Partners, which is responsible for the design construction, operation and maintenance of the hospital over a 30-year concession period. Skanska has an equal share along with Innisfree, a UK-based infrastructure investment company.

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