Swedish multinational construction and development company Skanska AB (STO: SKA-B) said on Friday it has agreed a USD165m contract, about SEK1.5bn, with The Texas A&M University System to build a new Biology Teaching and Research building in College Station, Texas.

The project covers an approximately 17,200-square-metre facility that will replace several older biology buildings on campus. It is planned to include research laboratories, active-learning classrooms, technology-enabled teaching areas and collaboration spaces to support biological and biomedical research.

The value will be recorded in Skanska's United States order bookings for the first quarter of 2026, and construction is scheduled to begin in spring 2027 and conclude in spring 2029.