Skanska Signs $116 Mln Additional Contract With University Of Virginia For Biotechnology Institute

(RTTNews) - Skanska AB (SKBSY, SKSBF, SKA-B.ST), a Swedish construction and project development company, on Monday announced that it has signed an additional contract worth $116 million or about 1.2 billion Swedish Krona with the University of Virginia for the construction of the Paul and Diane Manning Institute of Biotechnology at Fontaine Research Park in Charlottesville.

The construction began in December 2023 and is expected to finish in the fourth quarter of 2027.

The amount will be included in U.S. order bookings for the third quarter of 2025.

The five-story, 33,000-square-meter or 354,000-square-foot facility will house the Commonwealth's first translational research program, featuring modular and multi-use laboratories, core facilities, and space for 100 to 150 researchers and biotechnology companies.

On Friday, Skanska closed trading, 0.99% lesser at SEK 241 on the Stockholm Stock Exchange.