STOCKHOLM, Sweden, April 17, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has received a tunnel contract valued at SEK 1.6 billion (HKD 1.5 billion) as well as another assignment for Disney's new Hong Kong facility valued at about SEK 1.1 billion (HKD 1 billion). Skanska accounts for 50 per cent of the contract amounts through the 50 per cent- owned Gammon Skanska. The contracts are included in order bookings for the second quarter of 2003.
The tunnel contract covers a 1.2-kilometers highway tunnel, with two parallel tunnel tubes, each with three lanes. The tunnels are being constructed in rock on Tsing Yi Island and via a planned bridge will connect the international airport on Lantau Island with the New Territories in northern Hong Kong. The customer is the local highway administration. The project is being initiated after Easter and is scheduled for completion in four years.
For Disney, Gammon Skanska will carry out a land reclamation project in the sea outside Hong Kong Disneyland. Gammon Skanska has previously received six assignments from Disney totaling about SEK 700 M (HKD 650 M). Hong Kong Disneyland will open in 2005. The new contract will be completed in 2008 for the second expansion phase of the theme park.
For further information please contact: Candy Chan, Communications Manager, Gammon Skanska tel +852 251 687 33 Peter Gimbe, Press Officer, Skanska AB tel +46 8 753 88 38
This and previous releases can also be found at www.skanska.com
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