Skanska announced today that it’s been awarded a contract worth the equivalent of $1.46 billion by BT’s (News - Alert) Openreach division for the recovery of redundant underground cables from within the North and Scotland Regions of the Openreach Network.

 

Work involves the extraction of 51,000 tons of cable over a three-year period and is slated to commence in September.

 

The contract reinforces Skanska’s long term relationship with BT, with whom the company has worked for more than 18 years, most recently undertaking term maintenance contracts under a framework agreement covering the Thames Valley and Yorkshire & Humberside areas, according to the companies.

 

Skanska UK reported revenues of SEK 17.7 billion in 2007, with about 5,500 employees, officials say. The company is active in building and civil construction, utilities and building services.

 

Skanska is also a leader in the British program for private public partnerships and a Private Finance Initiative.

 

Skanska is one of the world’s leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 60,000 employees in selected home markets in Europe, in the United States and Latin America. Headquartered in Stockholm, Sweden, Skanska’s sales in 2007 totaled the equivalent of $22.1 billion.

 

Work will commence this summer and is scheduled to be completed within 22 months, company officials say.

 

Skanska Poland, one of the largest construction companies in Poland, has about 6,500 employees. In Poland, Skanska Commercial Development and Skanska Infrastructure Development also are active, according to the company.