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.
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