Sweden-based construction group Skanska AB (SKSBF.PK) on Monday said it has, through a joint venture with Traylor Bros., Inc. and Walsh Construction, signed a contract with the Metropolitan Transportation Authority for Phase II of the Second Avenue Subway Program in New York.
The total contract is valued at $1 billion. Skanska said its share of the contract amounts to $498 million and will be included in its U.S. order bookings for the second quarter of 2026.
The project includes the design and construction of station structural shells between 105th Street and 110th Street for the future 106th Street Station, along with tunnel tie-ins, excavation and earthwork, roadway decking, station entrance structures, and utility support and reconstruction work.
The contract follows Phase I of the Second Avenue Subway project, which extended service from 63rd Street to 96th Street and began operations in 2017.
Work is scheduled to begin in May 2026 and is expected to be completed in the third quarter of 2030.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.