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Skanska bags NHAI projects
By A Business Correspondent
Amongst the top five construction companies in the world, Skanska is a 113-year-old company. Started as a cement products manufacturing company in 1887, Skanska soon became a key player in building up Sweden's infrastructure, including roads, power stations and housing. Since mid-1990, it started entering markets in the Middle East, Africa, Poland and the then USSR. It has expanded its reach by tying up with local players in several countries. It now operates in more than 60 countries in the world. Through the formation of consortia the company takes over complete responsibility for a project, including BOOT projects. The company's income in 2000 was approximately SEK 108 billion and earnings after net financial items were approximately SEK 8.5 billion.
In India, Skanska operates through Skanska UK. It has a subsidiary, Skanksa Cementation India, in which it holds around 80 per cent equity. Besides India, Skanska UK conducts operations in the United Kingdom, South Africa, Canada, Egypt and Dubai. In China, Hong Kong, Singapore, the Philippines, Malaysia, Thailand and Vietnam, Skanska UK conducts its operations through its 50-per cent owned company, Gammon Construction. Skanska is the fourth largest construction firm in the UK. In Hong Kong, Gammon is a market leader while in India Skanska ranks amongst the top firms.
Recently, Skanska Cementation India received contracts worth SEK 1,395 million from the National Highways Authority of India.
· The largest contract is for widening and upgrading more than 100 km of NH-46 in Tamil Nadu. The assignment, which also includes construction of new bridges, is scheduled for completion in March 2004.
· The company has also been contracted to widen and upgrade 62 km in Andhra Pradesh. This contract is also due to be completed in January 2004.
· Another contract involves the widening of 35 km of highway in Maharashtra for GBP 13 million. This project is scheduled to be completed in November 2003.
Some of the prestigious international contracts booked and recently executed by Skanska include:
* An SEK 628 million project awarded by Norsk Hydro for building a hydro-electric plant in Norway. This plant would have two generators of total capacity of 375 mw. The contract would be executed by Selmer Skanska, its subsidiary.
* A series of rail contracts valued at SEK 940 million in Hong Kong. This would be executed by Gammon Construction, which was acquired in 1999.The share of Skanska would be around 50 per cent
(12/1/01)
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