Skanska Secures Financial Close for UK's Biggest Hospital Scheme Barts and The London; Skanska Invests GBP 48 M, around SEK 650 M, Construction Contract Valued at GBP 1 billion, SEK 13.6 billion.STOCKHOLM, Sweden -- Skanska, in consortium with Innisfree and Equion (part of John Laing For John Laing, the 15th century bishop of Glasgow, see John Laing (bishop) John Laing plc is a British developer and operator of privately financed, public sector infrastructure projects such as roads, railways, hospitals and schools through Public-Private Partnership (PPP) and plc), has reached financial close for the financing, design, construction and operation of Barts and The London Hospitals under the UK Government's program for Public Private Partnerships (PPP (Point-to-Point Protocol) The most popular method for transporting IP packets over a serial link between the user and the ISP. Developed in 1994 by the IETF and superseding the SLIP protocol, PPP establishes the session between the user's computer and the ISP using ), Private Finance Initiative (PFI PFI Pay for Inclusion (web search engines) PFI Private Finance Initiative PFI Private Finance Initiative (UK) PFI Prison Fellowship International PFI Port Fuel Injection (engines) ). For Skanska, this means: --receiving a construction contract amounting to around GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion, about SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13.6 billion, which is to be included in order bookings for the second quarter 2006. --receiving a Hard FM contract valued at around GBP 7.5 M, about SEK 102 M, per year during the 42-year concession period. GBP 18 M, SEK 244 M will be included in order bookings for the second quarter. --committing to an investment of GBP 48 M, approximately SEK 650 M, (including GBP 8 M in mezzanine finance) corresponding to a 37.5 percent interest in the project company. The signed financial close yields a net cash flow for the Skanska Group of about SEK 1.1 billion, which will flow in the second quarter. This relates largely to development costs incurred to date. An earnings effect of approximately SEK 100 M arises on the portion of development costs that were previously expensed rather than capitalized. The main portion of the cash flow and the earnings effect is reported in the UK construction operations. The Barts and The London NHS Trust Barts and The London NHS Trust is an NHS Trust operating in the City of London and East London. It runs three hospitals:
This and previous releases can also be found at www.skanska.com Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2005 totaled USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 17 billion. More information and images are available at: http://www.skanska.com/bartsandthelondon This information was brought to you by Waymaker http://www.waymaker.net |
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