Skanska Secures Large Reconstruction Project in World Trade Center Area - Skanska's Share of Contract is Approximately USD 358 Million, About SEK 2.7 Billion.STOCKHOLM, Sweden -- Skanska is one of the leading companies in the joint-venture that has been contracted to construct the World Trade Center Transportation Hub Transportation hub is a location where traffic is exchanged across several modes of transport. These modes may include any of railway, tramway, rapid transit, bus, automobile, truck, airplane, spacecraft, ship, ferry, pedestrian or any other kind of transportation. for commuter rail traffic in the Ground Zero area in New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. .
It is estimated that the contract will total USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.1 billion divided into two stages of USD 200 M and USD 900 M. Skanska's share amounts 32.5 percent, corresponding to about USD 358 M, approximately SEK SEK
In currencies, this is the abbreviation for the Swedish Krona.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.7 billion. Skanska's share of the total contract amount will be included in portions throughout the year. The order is one of Skanska's largest in the US to date.
The customer is the Port Authority of New York and New Jersey Port Authority of New York and New Jersey, self-sustaining public corporation established in 1921 by the states of New York and New Jersey to administer the activities of the New York–New Jersey port area, which has a waterfront of c. , which is one of Skanska's repeat customers in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . In 2003, Skanska completed construction of JFK Airport's Light Rail System for the same customer. The successful completion was a decisive factor Noun 1. decisive factor - a point or fact or remark that settles something conclusively
causal factor, determinant, determining factor, determinative, determiner - a determining or causal element or factor; "education is an important determinant of for the customer in again selecting Skanska for a major project.
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 project also includes about 1,000 meters of pedestrian tunnels that will link with the PATH train stations and facilitate transit connections with other train and subway lines. A total of 13 rail and subway lines including the PATH trains and New York City Transit trains will converge at the World Trade Center Transportation Hub.
The facility's spectacular station facility is being designed by the world-renowned architect Santiago Calatrava Santiago Calatrava Valls (born July 28, 1951) is an internationally recognized and award-winning Spanish architect and structural engineer whose principal office is in Zurich, Switzerland. .
Work will commence on the project in early 2006 and beneficial occupancy is expected by 2009.
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. Fluor Enterprises is managing partner of the joint venture.
The project is financed partly by the Federal Transit Administration The Federal Transit Administration (FTA) is an agency within the United States Department of Transportation (DOT) that provides financial and technical assistance to local public transit systems. The FTA is one of eleven modal administrations within the DOT. , with funds earmarked for the reconstruction of Lower Manhattan, and partly by the Port Authority of New York and New Jersey.
Skanska is already operating in the area as the general contractor on the construction of the Dey Street Concourse Structural Box, which comprises new pedestrian tunnels and entrances to and between the subway lines at Dey Street. The Dey Street Concourse is part of the Fulton Street Transit Center The Fulton Street Transit Center is a $750 million project, currently in progress in New York City, USA, that will improve access to and connections between 12 subway services stopping at Manhattan's Fulton Street, PATH service and the World Trade Center station in Lower Manhattan. , which will connect to the World Trade Center Transportation Hub when it is completed. The design-build project commenced in 2005 and is valued at USD 133 M or approximately SEK 1 billion.
The World Trade Center Transportation Hub and the Dey Street Concourse Structural Box are two of the major projects in the reconstruction of Lower Manhattan's infrastructure system, which was severely damaged after the 2001 terror attacks. Construction activities at both sites must be carefully monitored due to the sensitive nature of where work is occurring.
This and previous releases can also be found at www.skanska.com
Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2004 totaled SEK 121 billion, USD 17 billion.
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