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Skanska to participate in consortium modernising street lighting in UK

Posted on: Mon, 30 Nov 2009 08:13:00 EST

Symbols: LAJOF

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Nov 30, 2009 (M2 PRESSWIRE via COMTEX) --
LAJOF | Quote | Chart | News | PowerRating -- 30 November 2009 - Swedish construction major Skanska AB (STO: SKA B)
said today it will participate in a consortium with UK property
developer John Laing plc to modernise street lighting in the Surrey
county, southeastern UK.

The Skanska-Laing consortium will be responsible for the financing,
design, construction, operation and maintenance of the stock of
lighting columns for 25 years, as from March 2010.

Skanska will receive a construction contract, worth some GBP83.7m, to
be booked in the fourth quarter of 2009.

The company will also get a deal worth GBP1.5m a year during the
25-year operation and maintenance period, of which GBP3m will be booked
in the fourth quarter of 2009.

Skanska will invest GBP4.6m in a 50% share in the project company.

The Swedish company will participate in the consortium via its Skanska
Infrastructure Development unit, while the construction assignments
will be carried out by its subsidiary Skanska UK.

In the next five years, the consortium will replace a total 70,000
street lights and a further 19,000 will be renovated and fitted with
more energy-efficient bulbs.

(EUR1 = GBP0.9)

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