Skanska AB (SKSBF.PK,SKAb.ST) said Wednesday that it has secured a $1 billion, or 9.3 billion Swedish Kroner, design-build contract from the Massachusetts Bay Transportation Authority, or MBTA, for the North Station Draw One Bridge Replacement and related rail upgrades across Boston, Cambridge, and Somerville.
The Swedish construction and development company said that the construction will begin in May 2026, with completion expected by fall 2032.
According to Skanska AB, the project will replace the existing bridges with vertical-lift spans, upgrade key structures, and add a new control facility and platform, along with track, signal, and Positive Train Control upgrades.
The expansion will increase capacity across the Charles River from four to six tracks, using optimized construction methods to minimize disruption for over 100,000 daily riders, the company added.
On the Stockholm Exchange, SKAb.ST ended Tuesday's trading at 252.60 Swedish Kroner, up 4.00 Kroner or 1.6 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
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.