Skanska Secures $1.2bn Contract for Four US Data Centres
Skanska has signed a $1.2bn contract to build four data centres in the southeastern United States for an unnamed client, the largest single data centre order for the Swedish construction group.
Project Details
- Total Area: Approximately 75,000 square metres (808,000 square feet)
- Scope: Shell and interior fit-out for technical spaces, support areas, and office functions
- Construction Start: Third quarter of 2026
- Completion Date: Third quarter of 2028
- Contract Value: SEK 11.2bn (approximately $1.2bn)
Implications and Context
- Order Bookings: The contract will be booked in Skanska USA’s order intake for the third quarter, reflecting the importance of audited bookings over press releases.
- Supply Chain Impact: Similar large-scale data centre contracts have reshaped the industrial supply chain, as seen with Prysmian's acquisition of Atkore for $3.8bn.
- Recent Projects: Skanska has announced several American data centre contracts this year, including projects in Georgia, Virginia, and other locations.
- Backlog: With the new order, Skanska's backlog reached SEK 297.5bn, representing about 21 months of work, with data centres accounting for roughly a tenth of that.
Industry Trends
- Geography: American secondary markets are gaining capacity due to factors similar to those driving European operators' shifts from major hubs.
- Project Structure: The projects share a common structure: shell contract, technical and support space fit-out, start within a quarter of signing, and no named tenant.
- Confidentiality: Hyperscale operators often require confidentiality, which explains why construction companies can announce large orders without revealing client details.