Skanska in US$ 600 million subway contract wins
By Helen Wright15 September 2011
The Metropolitan Transportation Authority of New York, US, has awarded Swedish contractor Skanska two separate construction contracts worth a total of US$ 596 million to develop sections of the New York subway system.
The largest contract saw Skanska partner with US specialist rail contractor Railworks on a project to furnish and install architectural finishes and structural work for the Number Seven Line subway extension from Times Square to West 25th Street and 11th Avenue in Manhattan, New York.
Skanska's75% share of the joint venture is worth US$ 386 million. The company said work on this project would begin in September and is scheduled for completion in June 2014.
For the second contract, Skanska partnered with US civil contractor Traylor Bros to win work on a project to build the 86th Street Station for the Second Avenue Subway Line, also in Manhattan.
Skanska's 70% share of this joint venture is worth US$ 210 million. The project includes drill and blast excavation for the 86th Street Station as well as installing concrete structural lining. The work is scheduled to be completed in the autumn of 2014.
Both contracts will be included in Skanska's third quarter order bookings.