Swedish construction and civil engineering firm Peab has secured a contract worth $14.4m (SEK124m) to construct a concrete tunnel for the new subway in Stockholm, Sweden.
Peab is undertaking this contract for customer region Stockholm’s administration.
Go deeper with GlobalData
The subway is being constructed at Kvicksund Road in Bandhagen in southern Stockholm.
More trains will be required when the subway is extended. To accommodate all the new trains, the Högdal Depo will be extended and will be used by the Green, Blue and Yellow lines.
Under the contract, Peab will be responsible for the construction of a part of the new track tunnel, which will connect the Högdal depo and the Farsta subway line.
This will allow the trains to move through both Högdalen and Hökarängen.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataConstruction work on the project is scheduled to commence in August this year and is expected to be completed in 2024.
Peab region manager Carl Johan Söderberg said: “As the Nordic Community Builder we are pleased to be part of the extension of the new subway, thereby helping to create better conditions for mass rapid transit for people in Stockholm.”
In a separate development, the company signed a contract with K2A Knaust & Andersson Fastigheter to sell a rental apartment complex in Växjö, Sweden for $83.5m (SEK716m).
To be built east of the Fagrabäck Roundabout in Växjö, the complex will comprise approximately 334 apartments.
Construction work on the new rental apartment complex is scheduled to begin this year with completion planned in 2025.
Peab business area project development manager Göran Linder said: “The strong demand for rental apartments has provided us with good opportunities to develop more property into rental apartment projects.
“Being able to offer both tenant-owner and rental apartments in the coming years creates a good platform for operations in business area Project Development as well as the Group’s other business areas.”
———————————————————————————————————————
Peab wins contract to build new track tunnel for subway extension in Stockholm. Credit: Peab.
