SOURCE: AB Svensk Exportkredit

December 12, 2008 08:53 ET

SEK finances for important infrastructure project for Skanska

STOCKHOLM, SWEDEN--(Marketwire - December 12, 2008) -

Today SEK has signed a loan agreement with Skanska co-owned GTC, Gdansk Transport Company S.A. The loan totals EUR 345 million and is provided for Phase 2 of the Polish A1 motorway. A major part of the construction will be performed by Skanska.

SEK has today, together with the Nordic Investment Bank, NIB, and the EuropeanInvestment Bank, EIB, signed a loan agreement with GTC, a company co-owned by Swedish Skanska Infrastructure Development AB. The entire financing totals EUR 1,070 million, of which SEK's part is EUR 345 million, with a 28 year-maturity.

The loan has been provided for the construction of Phase 2 of the A1 motorway in Poland, a 62-kilometer stretch between the cities of Nowe Marzy and Torun. Phase 2 is to be completed in 2011. The entire A1 motorway will, when completed, stretch from Gdansk, through Poland, to the Czech Republic, Slovakia and Hungary. A major part of the construction of Phase 2 will be performed by Skanska.

- This is an important infrastructure investment, not only for Poland, but also for the entire Baltic Sea region and clearly proves how important Swedish companies and Swedish exports are for our region's industrial conditions and competitiveness, says Peter Yngwe, President of SEK.

The construction of the motorway is being carried out as public private partnership, PPP. GTC has been granted, by the Polish government, the concession to construct and operate the motorway until 2039. GTC is a joint venture with Swedish Skanska Infrastructure Development AB as a major shareholder.

For further information please contact Johan Winlund, Head of Communications, on +46 8 613 84 88.

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