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Skanska builds underground transitway in Los Angeles, USA, for USD 574 M, about SEK 3.8 billion

7/3/2014 8:30 AM CET
Press release
Skanska has, in joint venture with Traylor Brothers, Inc., signed a contract with the Los Angeles County Metropolitan Transportation Authority to construct the Regional Connector, an underground transitway in downtown Los Angeles, USA. The total contract value for the joint venture company Regional Connector Constructors is USD 918 M, about SEK 6 billion. Skanska USA Civil will include its full USD 574 M share, about SEK 3.8 billion, in order bookings for the second quarter of 2014.
Regional Connector

The Regional Connector project consists of the design and construction of a 3-kilometer double track light rail transit subway in downtown Los Angeles with three new stations.

Construction work will start immediately and is expected to be completed in October 2020.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.