Skanska to Build Ring Road in Czech Republic for SEK 360 M, CZK 960 M
Skanska has been contracted to construct a section of the new ring road around Prague in the Czech Republic. Skanska’s share of the contract amount totals CZK 960 M, about SEK 360 M, which has been included in orders bookings for the third quarter.
The contract is worth a total of about CZK 4.2 billion, SEK 1.6 billion. The project will be implemented by a consortium, of which Skanska’s share accounts for 23 percent.
The client is the Czech Highway Authority, which is financing the project with support from the state fund for transport infrastructure.
The project pertains to a 9-kilometer section of four-lane expressway, including 22 bridges and three fly-overs. The expressway will mainly be constructed outside the developed area southeast of Prague. The new project will connect to another section of the ring road that Skanska is currently also constructing.
Work will commence immediately and both of the sections are scheduled to be completed in 2010.
Skanska Czech Republic, the largest construction company in the Czech Republic, had sales of SEK 11 billion in 2007. The company has about 7,000 employees in Czech Republic and Slovakia.
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Skanska is one of the world’s leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 60,000 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 2007 totaled SEK 139 billion.
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