Skanska signs $336M contract to build new lanes on deadly highway
- Skanska and Coffman Specialties have signed a significant contract to enhance the I-15 Corridor in California.
- The project will include constructing 17.4 kilometers of express lanes to alleviate congestion and improve traffic flow.
- Construction is set to begin in January 2025 and aims for completion by July 2028.
On December 13, 2024, in Stockholm, Sweden, Skanska, a leading construction company, announced that it had entered into a joint venture with Coffman Specialties to undertake the Interstate 15 (I-15) Corridor Freight and Express Lanes Project in Ontario, California. This significant infrastructure improvement is in response to growing concerns regarding vehicle congestion and interstate truck traffic within the region. The project involves constructing two additional express lanes spanning a total of 17.4 kilometers along the median of I-15, incorporating price-managed tolled facilities for northbound and southbound traffic. The total value of the contract is reported to be USD 389M, of which Skanska's portion amounts to USD 336M, approximately SEK 3.5 billion. Skanska plans to incorporate this share into the US order bookings for the fourth quarter of 2024. This initiative is critical in enhancing traffic flow along the I-15 corridor, which has been experiencing high vehicle traffic averages. Completion of this project promises various benefits, including improved connections to Riverside County’s existing I-15 express lanes, reduced congestion, and time savings for travelers. Construction is set to commence in January 2025, with an anticipated completion date of July 2028. These developments indicate a growing focus on addressing infrastructure challenges in California, a state known for its heavy vehicle traffic. The decision to invest in the I-15 express lanes reflects the ongoing need for effective transportation solutions to support both local and interstate commerce. The involvement of Skanska in this large-scale project underscores the significant investment in public infrastructure and its impact on economic growth within the region. As the project progresses, it is expected that there will be increased attention to the operational aspects of managing toll facilities and enhancing user satisfaction. The joint venture is also seen as a vital collaboration that brings expertise to the execution and delivery of this much-needed infrastructure upgrade.