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Daily Newsletter

04 December 2023

Daily Newsletter

04 December 2023

Skanska wins additional contract for NC State University

The site is set to be certified to LEED Gold standards.

Upasana Mukherjee December 04 2023

Skanska has been awarded an additional contract concerning the construction of North Carolina (NC) State University’s integrative sciences building (ISB) in Raleigh, US.

The building will have science, technology, engineering, and mathematics facilities.

This additional contract, valued at $106m, will be added to Skanksa's US order bookings in the fourth quarter of this year.

The project commenced in September this year and is scheduled for completion in September 2026.

The 15,300m² development will have classrooms, a café, research core facilities, as well as study areas.

The new building will be environmentally friendly, with a focus on chemistry, biochemistry, and biotechnology.

It will house the Integrative Sciences Undergraduate Curriculum, featuring two floors of instructional labs and a 'mega lab' on the first floor.

The building’s second floor will have advanced teaching labs while floors three to five will be home to the Integrative Sciences Initiative research programme.

The site is expected to be Leadership in Energy and Environmental Design (LEED) Gold-certified.

The ISB will also revamp the Brickyard, which is a hub of activity on the university's North Campus.

In April 2018, the company signed a contract with NC State University for the construction of an engineering building at the NC State Centennial campus.

Recently, Skanska entered a contract with Nye Veier for the E6 Berkåk-Vindåsliene motorway project in Trøndelag County, Norway.

North America Construction market dynamics

Per GlobalData, the North America construction market size is expected to reach $1,772.5 billion in 2023. The energy and utilities construction sector is expected to depict a AAGR of 8.7% in real terms from 2024 to 2027, supported by investments in regional renewable energy and oil and gas projects.

IoT market for construction set to grow at a CAGR of ~16% by 2027

There is a huge opportunity for wearables in the construction industry. Several start-ups operate in this space: for example, Proxxi protects users from getting electrocuted, and Plinx uses proximity sensors for social distancing. Wearables can also improve communication channels between field and desk workers. As digitalization develops, wearables will become synonymous with construction work.

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