Skanska awarded Moynihan Station contract in New York for USD 148 M, about SEK 1 billion

ÖSTERSUND, Sweden--(BUSINESS WIRE)--Regulatory News:

Skanska (STO:SKAB) has signed a contract with the Moynihan Station Development Corporation (MSDC) to complete the first phase of an expansion to New York City’s iconic Penn Station, to create the new Moynihan Station. The contract value for Skanska is USD 148 M, about SEK 1 billion, which will be included in order bookings for Skanska USA Civil for the second quarter 2012.

Skanska will expand the length and width of the existing West End Concourse of Penn Station, which currently serves as a secondary access point to train platforms for Long Island Railroad (LIRR), New Jersey Transit and Amtrak commuters. The expansion will improve passenger circulation and capacity. Skanska will also build two new entrances into Moynihan Station, offering commuters direct passenger access from Eighth Avenue to the West End Concourse.

The first phase of the project is scheduled for completion in July 2016.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska Commercial Development, which develops commercial development projects in select U.S. markets. Headquartered in New York, Skanska USA has approximately 9,400 employees and its 2011 revenues were SEK 31.3 billion.

This and previous releases can also be found at www.skanska.com

Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act.

Throughout 125 years, Skanska has been a modern and innovative developer and contractor, building what society needs. Today, Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 53,000 employees in selected home markets in Europe, in the US and Latin America. Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2011 totaled SEK 123 billion.

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