ÖSTERSUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Skanska (STO:SKAB) has, in joint venture with Traylor Brothers, Inc., signed a contract with the Los Angeles County Metropolitan Transportation Authority to construct the Regional Connector, an underground transitway in downtown Los Angeles, USA. The total contract value for the joint venture company Regional Connector Constructors is USD 918 M, about SEK 6 billion. Skanska USA Civil will include its full USD 574 M share, about SEK 3.8 billion, in order bookings for the second quarter of 2014.
The Regional Connector project consists of the design and construction of a 3-kilometer double track light rail transit subway in downtown Los Angeles with three new stations.
Construction work will start immediately and is expected to be completed in October 2020.
Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.
Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act. Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 57,000 employees in selected home markets in Europe, in the US and Latin America.
Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2013 totaled SEK 136 billion.
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