Skanska replaces Livingston Avenue Bridge in Albany, NY, USA, for USD 596M, about SEK 6.3 billion

Rhea-AI Summary

Skanska has signed a USD 596 million (SEK 6.3 billion) contract with the New York State Department of Transportation to replace the Livingston Avenue Bridge in Albany, NY. The project, including a two-track vertical lift railroad bridge over the Hudson River, aims to enhance passenger and freight rail speed and safety. The scope also includes new railroad signals, electrical infrastructure, and improvements for pedestrians and cyclists. Work started in May 2024, with expected completion by March 2028. The contract will be part of Skanska's US order bookings for Q2 2024.

Positive

• Secured a USD 596 million contract, boosting Q2 2024 US order bookings.
• Enhances company portfolio with a high-profile infrastructure project.

Negative

• Project completion date set for March 2028, which may extend capital tie-up and risk.

STOCKHOLM, July 10, 2024 /PRNewswire/ -- Skanska has signed a contract with the New York State Department of Transportation (NYSDOT) for the Livingston Avenue Bridge Replacement Project in Albany, New York, USA. The contract is worth USD 596M, about SEK 6.3 billion, which will be included in the US order bookings for the second quarter of 2024.

The scope of the project includes the replacement of the Livingston Avenue Bridge, including the addition of a movable two-track vertical lift railroad bridge over the Hudson River to connect the cities of Albany and Rensselaer, New York.

Additionally, the project includes the construction of control and machinery rooms; the installation of new railroad signals; the implementation of electrical infrastructure; and bridge and navigation lighting, realignment and improvements. Additional rail bridges will also be reconfigured and rehabilitated.

The new bridge will support higher-speed passenger and freight rail, as well as provide pedestrians and bicyclists safer and better access to cross the Hudson River.

Work commenced in May 2024 with expected completion in March 2028.

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. 

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

https://news.cision.com/skanska/r/skanska-replaces-livingston-avenue-bridge-in-albany--ny--usa--for-usd-596m--about-sek-6-3-billion,c4013357

The following files are available for download:

https://mb.cision.com/Main/95/4013357/2909425.pdf

20240710 US Livingston Avenue Bridge replacement

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SOURCE Skanska

FAQ

What is the value of the Livingston Avenue Bridge Replacement Project contract Skanska signed?

The contract is valued at USD 596 million, approximately SEK 6.3 billion.

When will the Livingston Avenue Bridge Replacement Project be completed?

The project is expected to be completed by March 2028.

What is included in the Livingston Avenue Bridge Replacement Project by Skanska?

The project includes replacing the bridge, adding a two-track vertical lift railroad bridge, new railroad signals, electrical infrastructure, and improvements for pedestrians and cyclists.

When did work on the Livingston Avenue Bridge Replacement Project commence?

Work commenced in May 2024.

What is the significance of the Livingston Avenue Bridge Replacement Project for Skanska's Q2 2024 order bookings?

The USD 596 million contract will be included in Skanska's US order bookings for the second quarter of 2024.