Skanska rehabilitates and modernizes rail tunnels in Northeast United States for USD 637M, about SEK 6.7 billion

Rhea-AI Summary

Skanska has secured a USD 637 million contract to rehabilitate and modernize rail tunnels in the Northeastern United States. This project, valued at approximately SEK 6.7 billion, will be recorded in the company's US order bookings for Q2 2024. Work is set to begin in 2024 with an expected completion date in 2027. This venture underscores Skanska's strength in large-scale infrastructure projects and its commitment to advancing sustainable construction solutions.

Positive

• Secured a USD 637 million contract, boosting order bookings for Q2 2024.
• Project valued at SEK 6.7 billion, enhancing revenue prospects.
• Rehabilitation and modernization of rail tunnels could lead to increased business visibility in the US infrastructure sector.

Negative

• None.

STOCKHOLM, July 12, 2024 /PRNewswire/ -- Skanska has signed a contract with a passenger railroad client in the Northeastern United States worth USD 637M, about SEK 6.7 billion, which will be included in the US order bookings for the second quarter of 2024.

The project consists of the rehabilitation and modernization of rail tunnels.

Work will commence 2024 with expected completion in 2027.

For further information please contact:
Maritza Ferreira, Vice President of Communications, Skanska USA, tel +1 (678) 492 2003
Andreas Joons, Press Officer, Skanska Group, 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. 

Skanska Group uses its knowledge and foresight to shape the way people live, work, and connect. We are one of the world's largest project development and construction companies, with 2023 revenue totaling SEK 157 billion. We operate across select markets in the Nordics, Europe and USA. Together with our customers and the collective expertise of our approximately 27,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.

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SOURCE Skanska

FAQ

What is the value of Skanska's new contract in the Northeastern US?

The contract is valued at USD 637 million, approximately SEK 6.7 billion.

When will Skanska start the rail tunnel rehabilitation project?

The project is set to commence in 2024.

What is the expected completion date for Skanska's rail project?

The project is expected to be completed in 2027.

How will Skanska's new contract affect its Q2 2024 order bookings?

The USD 637 million contract will be included in Skanska's US order bookings for Q2 2024.

What is the stock symbol for Skanska?

Skanska's stock symbol is SKBSY.