Skanska has bagged two construction contracts in Sweden and Finland. The company will invest about SEK 1.3 billion ($147.3 million) in an office building, known as Sthlm 01, in Stockholm. The construction contract is valued at SEK 1 billion ($113.3 million). The new 27-storey office will have around 26,000 sq m of leasable area. Construction on the project work will begin immediately, with the premises anticipated to be ready for occupancy during the first six months in 2020. Skanska also won a contract with Kainuu Social and Health Care Joint Authority for the construction of The Kainuu Central Hospital in Kajaani, Finland. The design and construction work will be executed through an alliance contract, which includes Skanska, Caverion and Sweco apart from the client. The total contract is valued at SEK 153 million ($163.8 million) with Skanska Finland's share being SEK 69 million ($73.8 million). The project, covering about 46,000 gross sq m, will be carried out in three phases. The first phase will include the construction of the majority of the new hospital building, while the second phase will involve revamp of the existing hospital emergency care building. The final phase will include demolition of decommissioned sections and finalising work in outdoor areas. Construction work is expected to commence in February 2017, and be wrapped up by the end of 2021.