Announces two further contracts in UK, Sweden (Il Sole 24 Ore Radiocor) - Stockholm, 12 Jul - Swedish construction company Skanska said it signed a 637 million dollar contract with a passenger railroad client in the Northeastern US for the rehabilitation and modernization of rail tunnels.

The contract, worth 6.7 billion Swedish crowns, will be included in the US order bookings for the second quarter of 2024. Work will commence in 2024 with expected completion in 2027.

The company separately said its Skanska Costain STRABAG joint venture, has been allocated an additional 50 million pounds, or 660 million crowns, under the existing contract with HS2 Ltd towards works on phase one of the new high-speed railway in the UK. This will be included in the order bookings for Europe in the third quarter of 2024.

The total contract, now valued at approximately 1.425 billion pounds, or 19.0 billion crowns to Skanska, involves the design and construction of major tunnels in the southern section of the overall project.

Finally, the construction group signed an additional agreement with NKT HV Cables regarding construction work for towers and associated side buildings as part of the expansion of a cable factory in Karlskrona, Sweden. The new contract is worth approximately 700 million crowns, which will be included in the order bookings for Sweden in the third quarter of 2024. The construction work will start immediately and is planned to be completed in June 2025.

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(RADIOCOR) 12-07-24 10:55:17 (0222) 5 NNNN