Skanska Secures $240M Contract for Virginia Tech Engineering Facility

Skanska AB ( ($SE:SKA.B) ) just unveiled an update.

Skanska has signed a supplemental contract worth USD 240 million with Virginia Tech to construct a new College of Engineering building in Virginia, USA. The project involves the renovation of Hancock Hall and the construction of the five-story Mitchell Hall, which will house several engineering departments and include a large university-owned wind tunnel. The construction began in spring 2024 and is expected to be completed by fall 2028.

The most recent analyst rating on ($SE:SKA.B) stock is a Buy with a SEK215.00 price target. To see the full list of analyst forecasts on Skanska AB stock, see the SE:SKA.B Stock Forecast page.

More about Skanska AB

Skanska Group is one of the world’s largest construction and project development companies, with 2024 revenue totaling SEK 177 billion. The company operates in select markets across the Nordics, Europe, and the USA, creating innovative and sustainable solutions that support healthy living. Skanska employs approximately 26,300 people and focuses on shaping the way people live, work, and connect.

Average Trading Volume: 734,126

Current Market Cap: SEK95.56B

For detailed information about SKA.B stock, go to TipRanks’ Stock Analysis page.