Skanska Secures SEK 1.2 Billion Contract for NKT Cable Factory in Sweden

Skanska’s New Milestone in Cable Production

In a significant announcement, Skanska has entered into a new contract with NKT HV Cables AB, valued at approximately SEK 1.2 billion, focusing on the second phase of construction and installation for NKT's cable factory located in Karlskrona, Sweden. This development marks a crucial step in expanding the factory's capabilities, highlighting the growing demand for renewable energy solutions.

Collaboration and Background

The history of collaboration between Skanska and NKT began formally in July 2023, with the initial collaboration agreement aimed at expanding the existing infrastructure of NKT's factory. Following the initial agreement, crucial contracts worth about SEK 300 million were signed in December 2023, confirming the commitment of both firms to pursue advancements in cable manufacturing and distribution.

Phase One Achievement

Phase one of the construction, which was signed in July 2024, came with a hefty price tag of SEK 700 million and is set to wrap up by 2025. This phase was focused largely on the foundational aspects of the new factory wing and included essential installations that will lay the groundwork for upcoming tasks.

What the New Contract Involves

The newly signed contract covers the construction and installation works for two significant components— the tower building and associated side structures. It signifies both parties' commitment to further advancing sustainable energy solutions, particularly in the Blekinge region of Sweden. According to NKT's statements, this expansion is poised to enhance the distribution of renewable electricity, essentially contributing to the green energy movement in Sweden.

Future Plans

Construction on the second phase is set to commence without delay, with an anticipated completion by May 2026. This time-sensitive expansion will ensure NKT can meet increasing market needs and utilize cutting-edge technology to reinforce its position as a leader in cable manufacturing.

The Importance of Renewable Energy

Skanska’s investment in this expansion comes at a pivotal moment when many industries are pivoting towards sustainable practices. With the ongoing urgency to adapt to climate change, developments like the NKT cable factory play a crucial role in supplying the necessary infrastructure for renewable energy technologies. This move not only serves customers better but also aligns with Sweden's national efforts to lead in sustainability and green energy production.

For further inquiries regarding this significant contract, please reach out to Andreas Joons, Press Officer at Skanska Group, via telephone at +46 (0)10 449 04 94 or through the media direct line at +46 (0)10 448 88 99.