Swedish construction company Skanska has received its first contract from Norwegian residential development company Fornebu Boligspar for the expansion of the new Fornebu residential area in Oslo. The project comprises a total of 26,000 m[sup]2[/sup] and the contract for NOK 365 mln (EUR 46.5 mln) is included in order bookings for the first quarter of 2008.
Swedish construction company Skanska has received its first contract from Norwegian residential development company Fornebu Boligspar for the expansion of the new Fornebu residential area in Oslo. The project comprises a total of 26,000 m2 and the contract for NOK 365 mln (EUR 46.5 mln) is included in order bookings for the first quarter of 2008.
Work will begin at the site in March and the project is scheduled to be completed in 2010. The project involves seven buildings with a total of 158 apartments.
Skanska has a long-term agreement for the continued expansion of housing on the closed Fornebu airport site. When fully developed, the new housing area will comprise about 4,800 apartments. Skanska has also been involved in the development process for Fornebu for a number of years.
Skanska Norway focuses on building construction and civil engineering. The unit has about 4,300 employees. In 2006, Skanska Norway had sales of about SEK 10.6 bn (EUR 1.1 bn). Skanska is also active in Norway in the development of residential projects and public-private partnership (PPP) projects.
