Skanska signs additional contract for biotechnology facility in Charlottesville, USA, for USD 66M, about SEK 690M

Rhea-AI Summary

Skanska (SKBSY) has secured an additional contract worth USD 66 million (SEK 690M) with the University of Virginia for the Paul and Diane Manning Institute of Biotechnology construction project. The five-story, 354,000-square-foot state-of-the-art facility will be located at Fontaine Research Park in Charlottesville, Virginia.

The facility will feature modular laboratory space, expanded research facilities, and core facilities, accommodating 100-150 researchers and biotechnology companies. Construction commenced in December 2023, with completion expected in Q4 2027. The contract value will be included in US order bookings for Q2 2025.

Positive

• Secured additional USD 66M contract, strengthening order backlog
• Project contributes to long-term revenue visibility through 2027
• Strategic partnership with prestigious University of Virginia enhances reputation in biotech construction

Negative

• None.

STOCKHOLM, May 20, 2025 /PRNewswire/ -- Skanska has 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, Virginia. The additional contract is worth USD 66M, about SEK 690M, which will be included in the US order bookings for the second quarter of 2025.

Upon completion, the five-story, approximately 33,000 square meter (354,000-square-foot) Paul and Diane Manning Institute of Biotechnology at the University of Virginia will be a state-of-the-art facility to house the first-of-its-kind translational research program in the Commonwealth.

The building will include modular, multi-use laboratory space and support space, expanded research facilities, core facilities and an area for 100-150 researchers and partnering biotechnology companies to foster collaboration on the frontlines of science and technology.

Construction began in December 2023 and is expected to be completed in the fourth quarter of 2027.

For further information please contact:

Ashley Jeffery, Communications Manager, USA Building, tel +1 813 459 3682

Andreas Joons, Press Officer, Skanska Group, tel +46 76 870 75 51

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-signs-additional-contract-for-biotechnology-facility-in-charlottesville--usa--for-usd-66m--a,c4152560

The following files are available for download:

https://mb.cision.com/Main/95/4152560/3458107.pdf	20250520 US additional contract UVA BioTech
https://news.cision.com/skanska/i/image---biotech-charlottesville,c3410996	Image - Biotech Charlottesville

 

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SOURCE Skanska

FAQ

What is the value of Skanska's new contract for the UVA biotechnology facility?

Skanska secured an additional contract worth USD 66 million (approximately SEK 690M) for the Paul and Diane Manning Institute of Biotechnology at the University of Virginia.

When will Skanska complete the UVA biotechnology facility construction?

The construction, which began in December 2023, is expected to be completed in the fourth quarter of 2027.

How large is the UVA biotechnology facility being built by Skanska?

The facility is a five-story building spanning approximately 33,000 square meters (354,000 square feet).

How many researchers will the new UVA biotechnology facility accommodate?

The facility will accommodate 100-150 researchers and partnering biotechnology companies.

When will SKBSY record this contract in their order bookings?

The contract value will be included in Skanska's US order bookings for the second quarter of 2025.