Skanska to Construct Rail Tunnel in New York for USD 52 M, Approximately SEK 380 M

STOCKHOLM--()--Regulatory News:

Skanska (STO:SKAB) has been awarded a design/build contract for a new rail tunnel in New York, U.S. Skanska’s share of the contract amount is USD 52 M, or approximately SEK 380 M, which will be included in second-quarter order bookings. Skanska has a 20-percent share of the total contract amount, which is USD 258 M.

The customer is New Jersey Transit.

The contract relates to the Palisades Tunnel, which is part of the new Trans-Hudson Express Project (THE Project). With the construction of THE Project, NJ Transit will double its rail capacity between New Jersey and New York.

Palisades Tunnel comprises twin tunnels each about 1,600 meters long that will be open-cut and bored using a TBM (tunnel boring machine). The finished internal diameter of the tunnels will be approximately 7.2 meters. A large shaft measuring about 36 meter in diameter and six tunnel cross passages also form part of the project.

Work on the project has commenced and will be completed in December 2013.

The design/build project is being performed by Skanska USA Civil as part of a consortium that also includes Schiavone and Shea, which have shares of 50 and 30 percent, respectively. In New York, Skanska is also extending the subway lines 7th line and 2nd Avenue line with the same partners.

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 7,000 employees and its 2009 revenues were SEK 44 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.

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 2009 totaled SEK 137 billion.

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Contacts

Skanska AB
Peter Gimbe, Press Officer
Tel +46 10 448 88 38
or
Direct Line for Media
Tel +46 10 448 88 99

Contacts

Skanska AB
Peter Gimbe, Press Officer
Tel +46 10 448 88 38
or
Direct Line for Media
Tel +46 10 448 88 99