Skanska Partners for I-95 15 Project Development
Skanska, in collaboration with McCourt Construction and AETNA Bridge Company, has entered into a significant contract with the Department of Transportation to undertake the design and construction of the I-95 15 Project. The overall contract has been valued at USD 625 million, with Skanska's share amounting to USD 417 million, approximately SEK 4.4 billion. This contract will be included in Skanska's US order bookings for the third quarter of 2024.
Understanding the Project Scope
This extensive project aims to enhance the I-95 corridor, a crucial route that accommodates the daily movement of around 185,000 vehicles. As part of the project, Skanska plans to remove 15 bridges, which will lead to a 17.5 percent reduction in total deck area. This plan not only improves traffic flow but is also designed to better manage the transportation of approximately 45.2 billion tons of truck freight each year.
Timeline and Completion Expectations
Construction for the I-95 15 Project commenced in the recent months, with a substantial completion date anticipated for several years ahead. Specifically, teams expect to complete major components of the project by 2031.
Skanska's Commitment to Excellence
Skanska remains steadfast in its commitment to delivering quality projects that enhance infrastructure and improve safety for all users. This project exemplifies their dedication to innovation and efficiency in urban planning.
Contacting Skanska for More Information
For those seeking more insights or updates about the project, reach out to Maritza Ferreira, Vice President of Communications for Skanska USA, at +1 (678) 492 2003. Additionally, Andreas Joons, Press Officer for Skanska Group, can be contacted at +46 76 870 75 51 or via the direct media line at +46 (0)10 448 88 99.
Frequently Asked Questions
1. What is the I-95 15 Project about?
The I-95 15 Project focuses on enhancing the safety and efficiency of traffic flow on the I-95 corridor through a redesign that includes removing bridges and reducing deck area.
2. Who is involved in the project?
Skanska is working alongside McCourt Construction and AETNA Bridge Company on the project, contracted with the local Department of Transportation.
3. How much is Skanska's share of the contract?
Skanska's portion of the contract totals USD 417 million, approximately SEK 4.4 billion.
4. What improvements are expected from this project?
The project is expected to improve traffic safety for over 185,000 vehicles daily and significantly enhance the overall freight movement across the corridor.
5. When is the expected completion of the project?
The substantial completion of the I-95 15 Project is anticipated in 2031, with work having started recently.
