Skanska improves subway stations in New York, USA, for USD 150M, about SEK 1.5B

Rhea-AI Summary

Skanska and Railroad Construction Company have secured a USD 150M contract with the Metropolitan Transportation Authority for subway station improvements in New York City. This contract will be reflected in the US order bookings for Q3 2022. The project includes upgrades to the Flushing Line, specifically at the 61st Street-Woodside and 74th Street Broadway stations, alongside additional repairs in Queens. Work commenced in September 2022 and is expected to conclude by May 2025.

Positive

• Contract worth USD 150M enhances revenue.
• Project expected to bolster US order bookings for Q3 2022.

Negative

• None.

STOCKHOLM, Oct. 11, 2022 /PRNewswire/ -- Skanska and its joint venture partner, Railroad Construction Company, signed a contract with the Metropolitan Transportation Authority to make improvements on subway stations in New York, New York, USA. Skanska's share of the contract is worth USD 150M, about SEK 1.5B, which will be included in the US order bookings for the third quarter 2022.

Skanska will make improvements on the Flushing Line, including repair improvements at the 61st Street-Woodside station, replacement of existing escalators at the 61st Street-Woodside station and the 74th Street Broadway station and additional repairs between 48th Street and 72nd Street in Queens.

Work began September 2022 and expected completion is May 2025.

For further information please contact:

Maritza Ferreira, VP Communications, Skanska USA, tel +1 (678) 492 2003

Jacob Birkeland, Head of Media Relations and Public Affairs, Skanska AB, tel +46 (0)10 449 19 57

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-improves-subway-stations-in-new-york--usa--for-usd-150m--about-sek-1-5b,c3645831

The following files are available for download:

https://mb.cision.com/Main/95/3645831/1636870.pdf

20221011 US Flushing

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SOURCE Skanska

FAQ

What is the value of Skanska's contract for subway improvements in New York?

Skanska's share of the contract for subway improvements in New York is worth USD 150M.

When did Skanska start work on the subway project in New York?

Skanska started work on the subway project in September 2022.

When is the expected completion date for Skanska's subway improvements?

The expected completion date for Skanska's subway improvements is May 2025.

What specific improvements will Skanska make on the Flushing Line?

Skanska will perform escalator replacements and repair work at the 61st Street-Woodside and 74th Street Broadway stations.

How will the new contract affect Skanska's order bookings?

The new contract will be included in Skanska's US order bookings for the third quarter of 2022.