Skanska Signs $66 Mln Addl. Contract With Virginia University For Biotech Facility

(RTTNews) - Skanska AB (SKBSY), a construction and property development company, said Monday that it signed an additional contract with the University of Virginia for the construction of the Paul and Diane Manning Institute of Biotechnology at Fontaine Research Park in Charlottesville.

The deal is worth $66 million or SEK 690 million. The construction started in December 2023 and is scheduled for completion in the fourth quarter of 2027.

The contract will be included in Skanska's U.S. order bookings for the second quarter.

Once completed, the five-story, 33,000-square-meter or 354,000-square-foot facility at the University will serve as a cutting-edge facility for the Commonwealth's first translational research program of its kind.

On Monday, Skanska closed trading 0.21% lesser at $236 on the Stockholm Stock Exchange.