Skanska has won the £600m Battersea Power Station contract to redevelop the iconic grade II* listed power station into a major mixed-use scheme. Battersea Project Holding Company Limited chairman Tan Sri Liew Kee Sin said banks had agreed to provide loans worth £1.35bn for the phase 2 and 3 of the project.
Work has already begun on dismantling the first of the 100m-tall chimneys, which will be rebuilt using the same concrete and reinforced steel materials but to modern specifications.
The win is the latest in a string of recent prestigious London contract wins for Skanska, with the firm picking up the £95m job to build Helical Bar’s One Mitre Square office scheme, as well as the £103m 1 & 2 Ludgate and the £177m One New Street office schemes, both for Land Securities. Last year the contractor also bagged the £500m Scalpel tower in the City of London, for US insurance firm W.R Berkley.