Skanska builds New York tunnel.
The Swedish multinational construction corporation, Skanska, has won a contract to build a new railroad tunnel, the Palisades Tunnel, which is part of the new link called the Trans-Hudson Express Project. When complete, it will double the New Jersey Transit's train capacity between New Jersey and New York.

The New York subsidiary, Skanska USA, has 20%, or $52 million, of the total contract value that amounts to $258 million. Work has already begun and will be completed in December 2013, according to Skanska. In the consortium are also the Schiavone and Shea companies with 50% and 30% respectively of the contract's worth.


Skanska currently has 53,000 employees around the world, and Skanska USA accounts for 7,000 workers.