Skanska builds new building at Rice University in Houston, Texas, USA, for USD 48M, about SEK 500M

Rhea-AI Summary

Skanska and joint venture partner B. Bell Builders have secured a USD 48M contract to construct a new building at Rice University in Houston, Texas, USA. The project, worth about SEK 500M, includes classrooms, office spaces, meeting areas, and a large event space. Construction is set to begin in May 2024 and finish by February 2026.

Positive

• Securing a significant USD 48M contract to construct a new building at Rice University in Houston, Texas, USA.

• The project includes various modern facilities such as new classrooms, office spaces, and a large event space.

Negative

• None.

News Market Reaction – SKBSY

+3.01%

+3.01% Session move

In the trading session that priced this news, SKBSY gained 3.01%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

STOCKHOLM, May 10, 2024 /PRNewswire/ -- Skanska and its joint venture partner, B. Bell Builders, have signed a contract for a new building adjacent to McNair Hall at Rice University in Houston, Texas, USA. Skanska's share of the contract is worth USD 48M, about SEK 500M, which will be included in the US order bookings for the second quarter of 2024.

The 10,400 square meter building for the Jones Graduate School of Business at Rice University will consist of new classrooms, including two 120-seat classrooms, two 65-seat classrooms, two hybrid technology classrooms, Ph.D. student office space, and various breakout and meeting spaces. It will also include a large event space, courtyard enclosure and cafe, along with the rework of the West Quad landscape.

Construction is slated to begin in May 2024 and expected to reach completion in February 2026.

For further information please contact:
Peggy Cook, Communications Manager, Skanska USA, tel +1 (513) 222 5310
Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-new-building-at-rice-university-in-houston--texas--usa--for-usd-48m--about-sek-500m,c3976144

The following files are available for download:

https://mb.cision.com/Main/95/3976144/2787020.pdf

20240510 US expansion University

 

View original content:https://www.prnewswire.com/news-releases/skanska-builds-new-building-at-rice-university-in-houston-texas-usa-for-usd-48m-about-sek-500m-302142112.html

SOURCE Skanska

FAQ

What is the value of the contract for the new building at Rice University?

Skanska's share of the contract is worth USD 48M, about SEK 500M.

When will construction of the new building begin and end?

Construction is set to start in May 2024 and expected to be completed by February 2026.

Where is the new building located?

The new building is adjacent to McNair Hall at Rice University in Houston, Texas, USA.

Who is Skanska's joint venture partner for this project?

B. Bell Builders is Skanska's joint venture partner for the construction of the new building at Rice University.