(Alliance News) - Webuild Spa announced Monday that its U.S. subsidiary Lane has been awarded a USD110 million contract in the U.S. to build the Newsport News section of the "I-64 HREL highway project in the city of Hampton, Virginia.

The new contract follows the recent announcement of the acquisition in Florida of the USD299 million project, also 100% Lane, to widen the Seminole Expressway/SR 417.

Commissioned by the Virginia Department of Transportation, the new project aims to reduce traffic congestion and provide more travel options on one of America's major interstate highways, the company explained in a note.

The project will widen and reconfigure I-64, adding one express lane in each direction of travel. For about 17 miles of the corridor, from Bland Boulevard to the interchange with I-664, on both directions of travel, the existing high-occupancy lane will in fact be converted to Express Lane.

Webuild trades in the green by 4.8 percent at EUR2.39 per share.

By Claudia Cavaliere, Alliance News reporter

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