Skanska signs contract with MARTA in Georgia, USA, worth USD 49M, about SEK 500M

Rhea-AI Summary

Skanska has signed a $49 million contract with the Metropolitan Atlanta Rapid Transit Authority (MARTA) to deconstruct and rebuild the Five Points Station canopy in Atlanta, Georgia. This project, equating to about SEK 500 million, will be recognized in the second quarter of 2024. The scope includes dismantling the pre-stressed concrete canopy and demolishing the plaza to make way for a new mass timber, open-concept canopy with enhanced pedestrian entrances. Five Points Station is the largest and busiest in the MARTA system, serving as a key hub for all rail lines and multiple bus routes in Atlanta. The deconstruction is set to begin in July 2024 and is expected to conclude in 2026.

Positive

• Skanska signs a significant $49M contract, adding to their financial backlog.
• The project enhances Skanska's portfolio in large-scale infrastructure projects.
• Engagement with MARTA, a major urban transit authority, could lead to future contracts.

Negative

• The project completion timeline extends to 2026, which may delay revenue recognition.
• Potential risks associated with large-scale deconstruction and construction projects.

STOCKHOLM, June 25, 2024 /PRNewswire/ -- Skanska has signed an initial contract with MARTA, Metropolitan Atlanta Rapid Transit Authority, to deconstruct the MARTA Five Points Station canopy in Atlanta, Georgia. The contract is worth USD 49M, about SEK 500M, which will be included in the second quarter of 2024. 

The contract includes deconstruction of the existing pre-stressed concrete canopy and demolition of the plaza to make way for a new mass timber, open-concept canopy with new pedestrian entrances. Five Points Station is the largest and busiest rail station in the MARTA system, and the connecting point for all rail lines and eight bus routes throughout Atlanta.

Deconstruction is expected to begin July 2024 and scheduled to be completed in 2026.  

For further information please contact:
Ashley Jeffery, Communications Mgr, Skanska USA Building, tel +1 813 459 3682
Jacob Birkeland, Skanska AB, tel +46 (0)76 899 72 69
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-signs-contract-with-marta-in-georgia--usa--worth-usd-49m--about-sek-500m,c4005842

The following files are available for download:

https://mb.cision.com/Main/95/4005842/2883015.pdf	20240625 US MARTA Five Points Station
https://news.cision.com/skanska/i/image-five-points,c3314111	Image Five Points

 

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SOURCE Skanska

FAQ

What is the value of Skanska's contract with MARTA?

The contract is valued at $49 million, approximately SEK 500 million.

What is the scope of Skanska's project with MARTA?

The project involves the deconstruction of the existing Five Points Station canopy and demolition of the plaza to build a new mass timber, open-concept canopy.

When will Skanska begin the deconstruction at Five Points Station?

Deconstruction is expected to begin in July 2024.

When is Skanska's project with MARTA scheduled for completion?

The project is scheduled to be completed in 2026.

How does the Skanska contract with MARTA impact the company's financials?

The contract worth $49 million will be included in Skanska's financials for the second quarter of 2024.