The construction value of the project is $262 million. Skanska will include its full share, $87 million, in the bookings for Skanska USA Civil for the first quarter 2012.
Skanska, with joint-venture partner LK Comstock and Co., a subsidiary of RailWorks, will construct the track and systems for Phase 1 of the Second Avenue Subway. The project includes the installation of track, train signals, communications systems and traction power between 105th Street and the existing subway station at 63rd Street. Additional project work includes modification of existing facilities and systems to ensure connectivity with the Second Avenue Subway system. The joint venture will also construct three rail cross-overs along this route, which will allow trains to switch tracks in case of emergency.
The project is Skanska's third contract for the construction of Phase 1 of the Second Avenue Subway project. Work will commence in February 2012 with anticipated completion in fall 2016.