Skanska Secures SEK 700M Contract for NKT Cable Factory Expansion in Karlskrona

Skanska Secures SEK 700M Contract for NKT Cable Factory Expansion in Karlskrona

(IN BRIEF) Skanska has signed a SEK 700 million agreement with NKT HV Cables AB to construct towers and side buildings for the expansion of NKT’s cable factory in Karlskrona, Sweden. This contract, part of Skanska’s Q3 2024 order bookings, enhances their existing partnership. NKT’s expansion, crucial for renewable energy distribution, will drive technological development in Blekinge and Sweden. Construction starts immediately and is set to complete by June 2025.

(PRESS RELEASE) STOCKHOLM, 12-Jul-2024 — /EuropaWire/ — Skanska has signed an additional agreement with NKT HV Cables AB to undertake construction work for towers and associated side buildings as part of the expansion of NKT’s cable factory in Karlskrona, Sweden. This new contract is valued at approximately SEK 700 million and will be recorded in Skanska’s order bookings for Sweden in the third quarter of 2024.

This agreement enhances the existing cooperation between Skanska and NKT, which already includes various expansion works at the Karlskrona cable factory. NKT, a leading manufacturer of high-voltage cables, plays a crucial role in supporting the installation of renewable energy sources, thereby contributing to climate change mitigation efforts both in Sweden and internationally. This investment by NKT will foster the development of renewable energy distribution and technological advancement in Blekinge and across Sweden.

Construction work will commence immediately, with completion expected by June 2025.

This and previous releases can also be found at www.skanska.com.

Skanska Group uses its knowledge and foresight to shape the way people live, work, and connect. We are one of the world’s largest project development and construction companies, with 2023 revenue totaling SEK 157 billion. We operate across select markets in the Nordics, Europe and USA. Together with our customers and the collective expertise of our approximately 27,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.

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SOURCE: Skanska AB