What S&B USA Construction does

S&B USA Construction is the US infrastructure arm of Israel's Shikun & Binui Ltd., operating through two integrated divisions: S&B USA Concessions, which develops, finances, and holds long-term equity in public-private partnership (P3) megaprojects, and S&B USA Construction, which executes alternative-delivery infrastructure projects with self-performing capability through its Fay subsidiary. The company delivers the full spectrum of alternative delivery — P3, design-build, progressive design-build, and CMAR — for state DOTs (PennDOT, VDOT, PA Turnpike), Class I railroads (CSX), passenger rail authorities (VPRA), and flood-control authorities (Metro Flood Diversion Authority), anchored by flagship P3s including the $2.3 billion PennDOT Major Bridge Program and the $1.2 billion Fargo-Moorhead Stormwater Diversion Channel.

The technical foundation combines heavy civil construction expertise in cast-in-place segmental bridges, tunnel excavation for double-stack rail clearance, marine construction, demolition, and large-scale earthwork with applied digital tooling including 4D BIM modeling, drone LiDAR, GIS-integrated reporting, and AI-powered quantity and progress tracking. Proprietary methods include a custom rail-mounted gantry crane system for tunnel work and the first green financing framework applied to a US P3 (Fargo-Moorhead).

Revenue is generated through construction management fees on multi-year megaprojects, equity returns and availability payments from 30-35 year P3 concessions (DBFOM/DBFM), milestone/mobilization payments during construction, joint venture participation in consortia, and toll operations where applicable. Contracts are won through competitive government procurement and negotiated alternative-delivery processes, often via joint ventures with engineering and construction partners; pricing is project-specific and not publicly disclosed.

Name

S&B USA Construction

Legal name

S&B USA

Website

https://shikunusa.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

501–1,000 employees

Short description

S&B USA Construction is the US infrastructure arm of Israel's Shikun & Binui Ltd., delivering P3 megaprojects, design-build, and self-performing heavy civil construction through its Concessions and Fay divisions for state DOTs, railroads, and government agencies.

Ownership category

akta.pro rank

Product category

Heavy Civil Infrastructure Construction

NAICS

Heavy and Civil Engineering Construction (237), Highway, Street, and Bridge Construction (23731), Utility System Construction (2371)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Road & Tunnel Operations/Construction Interfaces (Tolling Infrastructure, Ventilation/Fire-Life-Safety Civil Works) (IMAFAEAL)

akta.pro secondary industry

Automotive & Heavy Manufacturing Plant Construction (IMAFADAK)

Keywords

• Heavy civil construction
• Public-private partnerships
• Design-build infrastructure
• Bridge construction services
• Infrastructure development

Headquarters

HQ city

Pittsburgh

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. P3 Concession Revenue (Availability Payments): S&B USA Concessions develops, finances, constructs, operates, and maintains infrastructure under DBFOM (Design-Build-Finance-Operate-Maintain) or DBFM (Design-Build-Finance-Maintain) P3 arrangements. Revenue is earned through long-term availability payments from public agencies over concession periods (e.g., 30 years for Fargo-Moorhead, 35 years for PennDOT Major Bridges), after construction milestones are met. The company also earns equity returns and milestone/mobilization payments during construction.
2. Construction Management Fees (General Construction): S&B USA Construction earns fees for construction management services on alternative delivery projects (design-build, progressive design-build, CMAR) and traditional construction contracts. Revenue is project-based, earned as work progresses. The company self-performs critical scopes through its Fay subsidiary while managing subcontractors for the remainder of project work.
3. Joint Venture Participation Revenue: S&B USA participates as a lead partner in joint ventures (e.g., ASN Constructors for Fargo, Bridging Pennsylvania Constructors for PennDOT, Skanska-Fay JV for Howard Street Tunnel, Long Bridge Rail Partners for Long Bridge South) and earns revenue through its equity stake and construction fees from these arrangements.
4. Toll Operations Revenue: For toll road P3 projects (e.g., former SH 288 project in Houston), S&B USA Concessions collected tolls during the concession period. SH 288 used dynamically priced congestion management tolling with prices fluctuating based on traffic conditions, supporting 11 toll zones and 14 toll points.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

S&B USA Construction delivers end-to-end heavy civil infrastructure services through alternative delivery methods including P3 (public-private partnerships), design-build, progressive design-build, and CMAR. The company operates via three units: S&B USA Concessions (P3 development and financing), S&B USA Construction (construction management), and Fay (self-performing construction for roadways, bridges, dams, ports, and industrial sites). Services span development, financing, construction, operations, and maintenance across transportation, water, and energy sectors.

Product overview

S&B USA is a national infrastructure company operating through two main divisions: S&B USA Concessions (specializing in P3 development, financing, operations and maintenance) and S&B USA Construction (specializing in construction management with a self-performing entity called Fay). The company offers a full spectrum of alternative delivery solutions including public-private partnerships (P3), design-build, progressive design build, and construction manager at-risk (CMAR). Key project portfolios include the Fargo-Moorhead Stormwater Diversion Channel P3, the PennDOT Major Bridge P3 Program, Beaver River Bridge Replacement, CSX Howard Street Tunnel Clearance, and Long Bridge South Design-Build. S&B USA provides end-to-end infrastructure services spanning development, financing, construction, operations, and maintenance across transportation, water, and energy sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• S&B USA Concessions (P3 Development and Financing) Premier infrastructure developer and financial innovator specializing in Public-Private Partnerships (P3s) across North America. Develops and finances P3 megaprojects with capabilities spanning financing, construction, and long-term operations and maintenance for transportation, water, and energy infrastructure.
• S&B USA Construction (Construction Management Services) Delivers high-performance infrastructure through expert construction management, specializing in P3s and alternative delivery methods. Offers full-service construction management from preconstruction planning and value engineering through field execution and project closeout.
• Fay, S&B USA Construction (Self-Performing Construction) Self-performing construction unit with over 75 years of experience building heavy civil infrastructure projects including roadways, bridges, dams, ports, and industrial sites for public and private owners in Pennsylvania, Maryland, Virginia, and surrounding areas.
• Development and Financing Services Financial planning and funding solutions for infrastructure projects delivered through Design-Build-Finance (DBF), Design-Build-Finance-Maintain (DBFM), and Design-Build-Finance-Operate-Maintain (DBFOM) project structures, including equity investment, bond financing, and revolving credit facilities.
• Construction Management Services Full-service construction management including preconstruction planning, value engineering, field execution, project closeout, scheduling, cost control, quality assurance/quality control, and AI- and drone-enabled progress tracking.
• Operations and Maintenance (O&M) Services Long-term asset management and maintenance services including routine and preventive maintenance, renewal and rehabilitation, and toll collection for toll road assets, with concession terms of 30-35 years.
• Alternative Delivery Solutions Alternative project delivery methods including Design-Bid-Build, Design-Build, Construction Management at-Risk (CMAR), Progressive Design-Build, and Public-Private Partnerships (P3), delivered through multi-phase procurement (RFQ/RFP) or negotiated structures.

Quantifiable outcome

• Delivered the first large-scale flood protection resiliency P3 and first green financing framework P3 in the US (Fargo-Moorhead)
• +6 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• Bridging Pennsylvania Developers 1 (BPD1)flagshipStrategic or Co-development Partner · 22 December 2022S&B USA Concessions is a member of Bridging Pennsylvania Developers 1 (BPD1), the developer/concessionaire for the PennDOT Major Bridge P3 Program. Financial close was achieved on December 22, 2022, for this $2.3 billion P3. BPD1 is responsible for design, construction, financing, and 35 years of maintenance for 23 bridges across 6 Pennsylvania interstate locations. S&B USA owns a 40% share in BPD1. BPD1 includes the largest issuance of surface transportation Private Activity Bonds (PABs) in US municipal market history.
• Shikun & Binui Ltd. (Parent Company)flagshipStrategic or Co-development Partner · 1 January 2019S&B USA is the US subsidiary of Shikun & Binui Ltd., Israel's leading infrastructure and development company with a 100-year legacy. Shikun & Binui expanded into the US market in 2012 (SH 288 project in Texas) and acquired Fay's parent company in 2019 to strengthen US self-performing construction capabilities. Shikun & Binui has financed over 26 infrastructure projects internationally, including the Cross Israel Highway and Carmel Toll Tunnel. Parent company expertise in cast-in-place segmental bridge construction was transferred to Fay for the Beaver River Bridge project.
• Red River Valley Alliance (RRVA)flagshipStrategic or Co-development PartnerS&B USA Concessions is a member of the Red River Valley Alliance (RRVA), the concessionaire for the Fargo-Moorhead Stormwater Diversion Channel P3. RRVA is responsible for the design, construction, financing, maintenance, and operation of the 30-mile diversion channel under a 30-year DBFOM concession. S&B USA holds a 42.5% equity stake in the project. RRVA financing included $296M in tax-exempt Private Activity Bonds, $198M in private placement senior secured notes, and $643M from a revolving credit facility.
• ASN ConstructorscoreStrategic or Co-development PartnerASN Constructors is the joint venture design and construction company for the Fargo-Moorhead Stormwater Diversion Channel project. S&B USA Construction is a lead partner in the JV, which also includes the construction execution for the 30-mile diversion channel, 19 road and railroad bridges, 2 aqueducts, and associated infrastructure. S&B USA Construction self-performs significant portions of the work through its Fay subsidiary.
• Bridging Pennsylvania Constructors (BPC)coreStrategic or Co-development PartnerBridging Pennsylvania Constructors (BPC) is the joint venture construction entity for the PennDOT Major Bridge P3 Program. S&B USA Construction, along with a JV partner, leads the construction management of all six bridge locations. Fay acts as a local construction subcontractor at the I-80 North Fork and I-81 Susquehanna locations. Nearly 90% of project work has been subcontracted to local Pennsylvania firms.
• Skanska-Fay Joint VenturecoreStrategic or Co-development PartnerA joint venture between Skanska and Fay, S&B USA Construction was formed to deliver the CSX Howard Street Tunnel Clearance Project. The JV developed a first-of-its-kind gantry crane system mounted on a flatbed railcar to navigate tight tunnel curves while placing 20,000-pound precast concrete slabs. This innovation won the grand prize at the AGC Innovation Awards 2026 and enabled project delivery more than two years ahead of schedule. The project value exceeds $450 million.
• Long Bridge Rail Partners (LBRP)coreStrategic or Co-development PartnerLong Bridge Rail Partners is a joint venture of Trumbull Corp., Fay (S&B USA Construction), and Wagman Heavy Civil, Inc., formed to deliver the Long Bridge South Design-Build Package for the Virginia Passenger Rail Authority. The project involves constructing a new two-track railroad bridge and bicycle/pedestrian bridge over the Potomac River between Arlington, VA and Washington, DC. STV & Dewberry serve as the designer. Construction expected to begin Fall 2026 with substantial completion in 2030.
• STV & Dewberry (Designer)coreImplementation/ SI/ Consulting PartnerSTV & Dewberry serve as the designer for the Long Bridge South Design-Build project. They work in partnership with Long Bridge Rail Partners (Trumbull, Fay, Wagman JV) to deliver the new two-track railroad bridge and bicycle/pedestrian bridge over the Potomac River.
• The Challenge Program, Inc.minorStrategic or Co-development PartnerS&B USA partnered with The Challenge Program, Inc. and four Pennsylvania schools (Jeff Tech, Brookville, Brockway, and DuBois) in a workforce development initiative. S&B USA's $50,000 contribution introduces students to career opportunities in construction trades, using the nearby North Fork bridges over I-80 project as a real-world classroom. This addresses the anticipated retirement of 41% of the US construction workforce by 2031.
• University of Pittsburgh (Swanson School of Engineering and College of Business Administration)minorStrategic or Co-development PartnerS&B USA partnered with the University of Pittsburgh's Swanson School of Engineering and College of Business Administration to develop future talent and share knowledge advancing infrastructure development. The partnership offers experience-based learning, connects business and engineering for innovative solutions, and provides students with access to real projects including PennDOT Major Bridge P3, Pittsburgh International Airport Roads and Bridges, and PennDOT I-376 Commercial Street Bridge Replacement.
• Pittsburgh Parks ConservancyminorStrategic or Co-development PartnerS&B USA expanded its partnership with the Pittsburgh Parks Conservancy through a $50,000 investment in three school environmental education programs. Students visit the Commercial Street Bridge Replacement project site to explore the intersection of infrastructure and the environment, learning how S&B USA is protecting and restoring Frick Park and Nine Mile Run Trail beneath the bridge.
• Shikun & Binui Energy (Former Affiliate)minorStrategic or Co-development PartnerShikun & Binui Energy, a former affiliated company, developed renewable energy projects in the US including the Beacon solar projects (108 MW total, 49.5% stake) selling power to Los Angeles Department of Water and Power, the Saticoy Energy Storage project in Ventura County, CA (one of the largest operational battery storage sites in the US, 49% stake), and the Brazoria West Solar project (260 MW, 100% rights, completed).

Scale indicators17 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• AECOM: AECOM is a global infrastructure consulting and construction firm that designs, finances, and delivers major transportation, water, and environmental projects. It competes with S&B USA across P3 advisory, design-build, and program management for public agencies.
• Fluor Corporation: Fluor is a global engineering, procurement, fabrication, and construction firm with significant US transportation and infrastructure experience. It overlaps with S&B USA on heavy civil, P3 advisory, and large federal/state infrastructure pursuits.

Direct peers

• Skanska USA: Skanska is a global construction and infrastructure developer with deep US civil infrastructure and P3 capabilities. S&B USA has partnered with Skanska on the Howard Street Tunnel JV and both compete in heavy civil bridges, highways, and alternative delivery.
• Granite Construction: Granite Construction is a major US heavy civil contractor focused on transportation, water resources, and alternative delivery projects. It directly competes with Fay/S&B USA on highway, bridge, and rail P3 work across the Mid-Atlantic and broader US.
• Meridiam: Meridiam is a leading global infrastructure investor and developer focused on public-private partnerships in transportation, energy, and water. It is a primary competitor to S&B USA Concessions for long-term availability-payment P3 deals.
• Kiewit Corporation: Kiewit is one of the largest employee-owned US heavy civil and infrastructure contractors, executing bridges, highways, water, and rail projects. It competes with S&B USA on mega-project alternative delivery and P3 pursuits across multiple states.
• Plenary Group: Plenary is a North American P3 developer and investor with active concessions across highways, transit, social infrastructure, and water. It competes head-to-head with S&B USA Concessions for state DOT and authority-led P3 megaprojects.
• Cintra (Ferrovial): Cintra is a leading global toll-road and P3 concession developer with extensive US footprint. S&B USA Concessions CEO Lucas Lahitou was previously at Cintra US, and Cintra directly competes for US transportation P3 megaprojects alongside S&B.
• Walsh Group / Walsh Construction: Walsh is a major US heavy civil and building contractor with strong transportation and water infrastructure credentials. It competes with S&B USA on highway, bridge, and transit P3 megaprojects nationally.
• Lane Construction (Webber parent): Lane Construction is a US heavy civil contractor specializing in highways, bridges, tunnels, and rail, owned by Webuild Group. It competes with S&B USA/Fay on alternative delivery highway and bridge projects throughout the East Coast and nationally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about S&B USA Construction