Skanska has entered into an agreement with Hydro, a prominent entity in the aluminium and renewable energy sectors, for the construction of a state-of-the-art aluminium wire rod production facility. This new plant will be located at Hydro's existing site in Karmøy, Norway, marking a significant investment in industrial infrastructure.
The construction agreement carries an approximate value of Nkr1.1 billion ($111 million) or roughly Skr1 billion. Skanska announced that this substantial contract will be officially recorded in its Nordic order book during the third quarter of 2026. The project encompasses the erection of a new production hall, which will house advanced furnaces, a dedicated wire rod production line, and various ancillary structures for maintenance, storage, and administrative offices. The scope of work also includes comprehensive civil engineering, the installation of intricate technical systems, and seamless integration with the existing infrastructure at the Karmøy site. The new production line is engineered to achieve an annual output of approximately 110,000 tonnes of aluminium wire rod. Construction activities have already commenced, with the facility slated for completion by March 2028.
In addition to this Norwegian venture, Skanska has announced other strategic business developments. The company recently finalized the sale of the second building within its Studio office complex in Warsaw, Poland, to Stena Real Estate for €159 million ($181 million). This transaction will be recognized in Skanska Commercial Development Europe's third-quarter 2026 financial results, with the ownership transfer anticipated in the fourth quarter of 2026. The Warsaw project is a towering office building, offering approximately 27,700 square meters of gross leasable area across 26 floors, completed in the final quarter of 2025, and hosts tenants from diverse sectors. Furthermore, Skanska has secured a $94 million contract to build a 19,500 square meter data center in Virginia, US. This facility, featuring four data halls, site work, and underground utilities, represents the second building on its campus, with construction set to begin in October 2026 and completion projected for May 2028. Just last month, Skanska was also awarded a significant contract valued at £282 million ($373 million) for the construction of 55 Old Broad Street, a 23-story office tower near London's Liverpool Street Station.
These recent triumphs underscore Skanska's unwavering commitment to innovation and progress within the global construction landscape. The company's diverse portfolio, spanning industrial facilities, commercial real estate, and critical digital infrastructure, exemplifies its dynamic adaptability and capacity to deliver impactful projects worldwide. This strategic expansion not only strengthens its market position but also contributes significantly to economic development and technological advancement in various regions, highlighting a forward-thinking and positive trajectory for the industry.
