The Zurich-based reinsurers, Swiss Reinsurance Company, has awarded Skanska Construction a contract valued at £130 million to build its new office building in the City of London. This contract follows the completion earlier this week of the land purchase by Swiss Re of vacant Baltic Exchange site at St Mary Axe, London EC3.
The new 40-storey development is an unusual and individual design by the architect Sir Norman Foster. Bullet-shaped and clad completely in glass, it is similar in height to the Nat West Tower, now known as Tower 42.
Work on this shell and core contract is starting on site immediately and Skanska is due to complete towards the end of 2003.