Webuild S.p.A. (WBD.MI), an Italian construction company, on Wednesday announced that its U.S. subsidiary, The Lane Construction Corp., has secured a $337 million, approximately 288 million euros, contract to design and build improvements to Interstate 85 in Gaston County, North Carolina.
The project involves widening and modernizing the highway and reinforces Lane and Webuild's presence in North America, which is the group's second-largest foreign market by revenue.
The contract includes widening I-85 from six to eight lanes, replacing or widening six bridges, and reconstructing two interchanges to enhance safety and traffic flow in a key commuter corridor of the Charlotte metropolitan area. It also covers improvements to the intersection of Belmont and Mount Holly Road and US 29/74.
The company has a strong presence in the U.S. and, along with Lane, is working on several major projects. These include building the Palisades tunnels to improve rail links in New York, upgrading part of I-64 in Virginia, and widening the Seminole Expressway in Florida.
The group is also working on the I-275/I-4 interchange in Tampa and improving connections between I-4 and Sand Lake Road, as well as I-4 and SR 535 in Orange County.
On Wednesday, Webuild closed trading 0.72% higher at EUR 3.8940 on the Milan Stock Exchange.
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