Laing secures Finnish Finnish PFI road deal

John Laing, in consortium with Skanska BOT and Lemminkainen, has been named preferred bidder for the £23m E18 Muurla-Lohja motorway project in Finland. Laing will invest £6m in the concession company.

The project includes detailed road design, construction and maintenance as well as financing. The contract period is 21 years from date the road opens. The opening is scheduled for November 2008. Financial close is expected during the third quarter.

Laing chief executive Andy Friend said: "We are delighted to be announcing our second major project in Finland. [Upon reaching financial close] we will be an investor in three of the four PPP roads that have been awarded so far in the Nordic region."