Skanska Builds Power Plant in New York, USA, for USD 255 M, About SEK 2.1 Billion

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

Skanska  (STO:SKAB) has signed a contract with Competitive Power Ventures Holdings (CPV) to build the new CPV Valley Energy Center in New York. The contract is worth USD 255 M, about SEK 2.1 billion, which will be included in order bookings for Skanska USA Civil for the second quarter of 2015.

With joint venture partners Burns & McDonnell and Ecco Enterprises, Skanska will construct the new CPV Valley Energy Center, a natural gas fired combined cycle power plant in Wawayanda, New York, US. With a gross capacity of almost 675 megawatts, the new power facility will improve energy efficieny in the region and power more than 600,000 homes.

Construction begins in July and substantial completion is expected in 2017.

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 North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2014 revenues were SEK 43.5 billion.

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 premises, and public-private partnerships projects. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 58,000 employees in selected home markets in Europe and North America. Skanska's sales in 2014 totaled SEK 145 billion.

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Contacts

Skanska USA
Beth Miller, Communications Director
tel: +1 917 438 4523
or
Skanska AB
Edvard Lind, Group Press Officer
tel: +46 (0)10-448 88 08
or
Direct line for media: tel: +46 (0)10-448 88 99
This and previous releases can also be found at www.skanska.com

Contacts

Skanska USA
Beth Miller, Communications Director
tel: +1 917 438 4523
or
Skanska AB
Edvard Lind, Group Press Officer
tel: +46 (0)10-448 88 08
or
Direct line for media: tel: +46 (0)10-448 88 99
This and previous releases can also be found at www.skanska.com