Skanska has signed a contract to build a commercial building at One New Street Square in the City of London, UK, for its client LandSecurities. The contract is worth £97 million, about SEK990 million, which will be included in order bookings for Skanska UK for the first quarter 2014.
Skanska will use its expertise in construction, mechanical and electrical engineering and the installation of bespoke ceilings to deliver a high quality modern office building over 20 floors. Work is due to start in February 2014 and is set to conclude in summer 2016. Skanska UK reported revenues of about SEK 12 billion in 2013. It has around 5,000 employees. The company is active in building and civil construction, utilities and building services, as well as facilities management and commercial development. In the UK, Skanska is a leader in public private partnerships, PPPs, also known as Privately Financed Initiatives, PFIs.