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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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.