Skanska Expands Biotechnology Facility Project with USD 66M Contract

Skanska AB ( ($SE:SKA.B) ) has issued an update.

Skanska has secured an additional contract worth USD 66 million with the University of Virginia to construct the Paul and Diane Manning Institute of Biotechnology at Fontaine Research Park in Charlottesville, Virginia. This state-of-the-art facility will feature modular laboratory spaces and expanded research areas to support a pioneering translational research program in the Commonwealth. The project, which commenced in December 2023, is expected to be completed by the fourth quarter of 2027, enhancing Skanska’s presence in the biotechnology construction sector and fostering collaboration among researchers and biotech companies.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

More about Skanska AB

Skanska Group is one of the world’s largest construction and project development companies, with 2024 revenue totaling SEK 177 billion. The company operates in select markets across the Nordics, Europe, and the USA, focusing on creating innovative and sustainable solutions that support healthy living. Skanska leverages its extensive expertise and collaboration with customers to shape the way people live, work, and connect.

Average Trading Volume: 739,514

Current Market Cap: SEK96.91B

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