Skanska, RailWorks Venture Wins $262M NYC Subway Contract

Law360, New York (February 9, 2012, 3:41 PM EST) -- A joint venture between Swedish company Skanska AB and U.S. rail construction giant RailWorks Corp. has signed a $262 million contract for work on New York City's multibillion-dollar Second Avenue subway project, Skanska said Wednesday.

Skanska said its U.S. subsidiary and RailWorks-owned LK Comstock and Co. signed a deal with the Metropolitan Transit Authority, which is overseeing the project.

The Swedish firm said its capital share of the project is $87 million, putting its stake in the RailWorks joint venture at roughly 33 percent.

The JV...
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