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Skanska USA CEO: Energy Boom Boosting New Construction Projects

The natural gas boom in the U.S. is creating a huge backlog for construction projects, said Richard Cavallaro, the new CEO at Skanska USA. Skanska USA posted $7B in revenue in 2013 and Cavallaro said the company's backlog is strong for the second half of 2014 as well as 2015. Global revenue of its parent company Skanska AB, headquartered in Stockholm and listed on the Stockholm Stock Exchange, totaled $21 billion in 2013. Outside of new power construction projects, Cavallaro said municipalities are financing new infrastructure projects through public-private partnerships.