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| Skanska's share of WTC contract is USD 358 million Skanska is one of the companies in the joint-venture that has been contracted to construct the World Trade Center Transportation Hub for commuter rail traffic in the Ground Zero area in New York City. It is estimated that the contract will total USD 1.1 billion divided into two stages of USD 200 M and USD 900 M. Skanska's share of contract is approximately USD 358 million, about SEK 2.7 billion. The order is one of Skanska's largest in the US to date. Skanska and Fluor are majority shareholders of the joint-venture Phoenix Constructors. The other members of the joint-venture are Granite Construction Inc. and Bovis Lend Lease. The customer is the Port Authority of New York and New Jersey. In 2003, Skanska completed construction of JFK Airport's Light Rail System for the same customer. The project includes extensive underground work such as the construction of rail tunnels, including track laying and the installation of power, communications and signal systems as well as new climate-controlled train platforms and mezzanines. The facility's spectacular station facility is being designed by the world-renowned architect Santiago Calatrava. Work will commence on the project in early 2006 and beneficial occupancy is expected by 2009. The project is financed partly by the Federal Transit Administration, with funds earmarked for the reconstruction of Lower Manhattan, and partly by the Port Authority of New York and New Jersey. write your comments about the article :: © 2006 Construction News :: home page |