Skanska AB (SKSBF.PK,SKAb.ST) Thursday said that it had signed a deal with Bane NOR to develop the Stange-Otterstad rail infrastructure project in Norway. The contract is valued at 1.2 billion Norwegian Kroner or around 1.1 billion Swedish Kroner and will be recorded in Skanska's Nordic order bookings for the second quarter of this year.
The Swedish construction and property development company said that the project involves the construction of a new double-track railway designed to enhance capacity of the Nordic region. It includes works along the Stange-Otterstad section of the main rail network and forms part of the Intercity triangle connecting Oslo and Lillehammer, Skanska AB added.
According to Skanska AB, construction is scheduled to begin in May 2026, with completion targeted for late 2029.
On the Stockholm Exchange, SKA-B.ST ended Wednesday's trading at 251.50 Swedish Kroner, up 11.30 Kroner or 4.70 percent.
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