Skanska Signs Contract With Specialfastigheter Sverige To Expand, Österåker Facility In Sweden

(RTTNews) - Skanska AB (SKBSY, SKA-B.ST), a Swedish construction and development company, on Monday announced that it has signed a contract with Specialfastigheter Sverige AB to expand and renovate the Österåker correctional facility in Sweden for about SEK 1.3 billion.

The total value of the project for Skanska amounts to approximately SEK 2.7 billion, including work already invoiced.

The project includes rebuilding two structures, the new production of 13 buildings, and various smaller service buildings. Additionally, it also involves ground and foundation work, with handovers to Specialfastigheter Sverige AB scheduled until autumn 2027.

The company says the contract will be reflected in Sweden's order bookings for the second quarter.

On Friday, Skanska closed trading, 1.89% higher at $24.86 on the OTC market.