Skanska AB (SKSBF.PK) on Monday said, in a joint venture with Traylor Bros., Inc. and Walsh Construction, it has signed a $1.29 billion contract with the Gateway Development Commission for the Hudson Tunnel Project Package 1C in New York City.
Skanska said its share of the contract, valued at $363 million, will be included in its U.S. order bookings for the second quarter of 2026.
The project involves constructing two parallel single-track passenger rail tunnels beneath the Hudson River, each approximately 2,200 meters long, connecting Weehawken, New Jersey, to Manhattan's West Side. The scope also includes installing tunnel linings and floors, building nine cross passages, carrying out ground stabilization work near the Hudson-Bergen Light Rail, and completing underpinning works for the Willow Avenue Bridge.
Construction is expected to begin in the coming months.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.