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Tutor Perini (TPC) has announced that its subsidiary, Black Construction , in a joint venture, has been awarded a $74.4 million contract by the U.S. Naval Facilities Engineering Systems Command, Pacific District.
The contract is for the construction of a Child Development Center at Andersen Air Force Base in Guam.
The project involves building a single-story, reinforced concrete facility with child development spaces, administrative areas, staff and facility support spaces, and outdoor activity areas. The construction includes foundations, roofing, utilities, and environmental mitigation work.
Work is set to commence this summer, with substantial completion expected by summer 2026. The contract value will be added to the Company's backlog in Q2 2024.
Tutor Perini (NYSE: TPC) announced that its subsidiary, Tutor Perini Building Corp., has secured a $228.6 million contract from the Broward County Board of County Commissioners for the Terminal Connectors Project at Fort Lauderdale-Hollywood International Airport (FLL).
The project involves the construction of enclosed post-security walkways connecting Terminals 1, 2, and 3, along with upgrades to existing terminals including enhanced security checkpoints, an upgraded bag hall, expanded passenger gate-area hold room, and additional retail concessions.
Work begins in Q2 2024, aiming for substantial completion by Q3 2027. The contract value will be added to the company's backlog starting Q2 2024.
Tutor Perini (NYSE: TPC) has successfully completed the redemption of $500 million of its 6.875% Senior Notes due May 1, 2025, using proceeds from a recent $400 million offering of 11.875% Senior Notes due 2029 and cash on hand. The company's President, Gary Smalley, highlighted the achievement in reducing debt by $200 million since the previous year and reiterated the commitment to further de-leveraging using excess cash.