| Code: 105553 |

TIN news:   Skanska, in a joint venture (JV) with Costain, Balfour Beatty and Carillion, has secured a contract with Highways England (HE), a UK government-owned company, for carrying out road improvement works on the A14 Cambridge to Huntingdon in the east of England.
The total cost of the contract to the joint venture is £876m. The works will be carried out under a road improvement scheme.
Skanska UK will include its part of the contract worth £290m in the order bookings for the third quarter of this year.
"The A14 Cambridge to Huntingdon improvement scheme is reported to be one of the England’s largest road projects and represents a major investment by the UK government."
The A14 Cambridge to Huntingdon improvement scheme is reported to be one of the England’s largest road projects and represents a major investment by the UK government.
As per the terms of the contract, Skanska JV will responsible for new highway construction, as well as widening and improvement of existing highways situated within the county of Cambridgeshire.
Skanska JV has already initiated the early works on A14 Cambridge to Huntingdon, and is slated for completion in December 2019.
Last week, Skanska has signed a Sale and Purchase Agreement (SPA) with Edge Orbital Holdings, for its investment in the M25 motorway in London, UK, for SEK2.9bn ($337m).
As per the agreement, Skanska will be divesting its 40% ownership in Connect Plus, which manages Greater London’s M25 orbital motorway.
Skanska is one of the major construction firms in UK with reported revenue of about SEK 18bn ($2bn) last year.
It has a workforce of around 5,500 employees, and is active in building and civil construction, utilities and building services.

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