Sweden-based Skanska secures a US$498 million New York City subway contract via a joint venture for the Second Avenue Subway project.
STOCKHOLM: Skanska, the Sweden-based construction group, said on Monday that it had signed a contract with New York City’s subway operator, the Metropolitan Transportation Authority, for Phase II of the Second Avenue Subway Programme.
The contract was signed via a joint venture with Traylor Bros Inc and Walsh Construction, it said, reported German news agency dpa.
The total contract is valued at US$1 billion. Skanska said its share of the contract amounts to US$498 million and will be included in its US order bookings for the second quarter of 2026.
The project includes the design and construction of station structural shells between 105th Street and 110th Street for the future 106th Street Station, along with tunnel tie-ins, excavation and earthwork, roadway decking, station entrance structures, and utility support and reconstruction work.
The contract follows Phase I of the Second Avenue Subway project, which extended service from 63rd Street to 96th Street and began operations in 2017.
Work is scheduled to begin in May 2026 and is expected to be completed in the third quarter of 2030.
(Bernama-dpa)
