Skanska builds the Portal North Bridge replacement in New Jersey, USA, for USD 1.09B, about SEK 9.4B

Rhea-AI Summary

Skanska, in partnership with Traylor Bros, has secured a contract worth USD 1.56B with NJ TRANSIT to construct the Portal North Bridge in Hudson County, New Jersey. Skanska's portion amounts to USD 1.09B (approximately SEK 9.4B), set to be recorded in Q4 2021 order bookings. The project entails replacing the existing bridge with a new, higher structure, spanning nearly 2.5 miles, scheduled for completion by Q3 2027.

Positive

• Secured contract worth USD 1.56B with NJ TRANSIT.
• Skanska's share of the contract is USD 1.09B, enhancing order bookings.
• The project will improve rail infrastructure significantly.

Negative

• None.

ÖSTERSUND, Sweden, Jan. 10, 2022 /PRNewswire/ -- Skanska has, as part of a joint venture with Traylor Bros., Inc., signed a contract with NJ TRANSIT to build the Portal North Bridge replacement in Hudson County, New Jersey, USA. The total contract is worth USD 1.56B. Skanska's share of the contract is worth USD 1.09B, about SEK 9.4B, which will be included in the US order bookings for the fourth quarter of 2021.

The contract includes the replacement of the existing Portal North Bridge with a new two-track fixed structure crossing directly over the Hackensack River. The new bridge will rise more than 50-feet, or 15 meters, over the river, doubling the height of the existing bridge, and, including the approaches, will span nearly 2.5 miles, or 4 kilometers, of the Northeast Corridor.

The new Portal North Bridge will be constructed adjacent to the existing structure. The proposed improvements include the decommissioning and removal of the existing Portal Bridge, new rail bridges over adjacent roadways, retaining walls, access roads, construction access platforms, new track configuration, traction power supply and distribution, and catenary and communication support structures.

Construction will begin in the second quarter of 2022 and is scheduled for completion during the third quarter 2027.

For further information please contact:

Brittany Felteau, Communications Director, Skanska USA, tel +1 617 574 14 85

Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-the-portal-north-bridge-replacement-in-new-jersey--usa--for-usd-1-09b--about-sek-9-4b,c3483052

The following files are available for download:

https://mb.cision.com/Main/95/3483052/1518104.pdf

20220110 US Portal North Bridge

 

View original content:https://www.prnewswire.com/news-releases/skanska-builds-the-portal-north-bridge-replacement-in-new-jersey-usa-for-usd-1-09b-about-sek-9-4b-301456898.html

SOURCE Skanska

FAQ

What is the value of the contract Skanska signed with NJ TRANSIT for the Portal North Bridge?

The contract is worth USD 1.56B, with Skanska's share amounting to USD 1.09B.

When is the construction of the Portal North Bridge expected to start?

Construction is scheduled to begin in the second quarter of 2022.

What is the expected completion date for the Portal North Bridge project?

The project is expected to be completed by the third quarter of 2027.

How long will the new Portal North Bridge span?

The new bridge will span nearly 2.5 miles (4 kilometers) across the Northeast Corridor.

What is the significance of the Portal North Bridge replacement?

The new structure will rise more than 50 feet, doubling the height of the existing bridge, improving rail transit significantly.