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Black Construction Awarded $83.7 Million Wharf Improvements Project at Naval Base Guam
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) has secured an $83,733,445 contract from the Naval Facilities Engineering Systems Command to improve wharf infrastructure at Naval Base Guam. The project will modernize Berth 2 for optimal support of two loaded T-AKE vessels. Work is starting immediately and is projected for completion by September 2024. This contract will contribute to the Company's backlog for the second quarter of 2022.
Positive
Secured an $83,733,445 contract for wharf improvements.
Project supports U.S. military operations, enhancing strategic capabilities.
Work commences immediately, boosting short-term revenue expectations.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its Guam-based subsidiary, Black Construction, has been awarded an $83,733,445 firm-fixed-price contract by the Naval Facilities Engineering Systems Command, Pacific District, for design and construction of wharf improvements at Naval Base Guam. The work to be performed includes the renovation and modernization of Berth 2 to provide full capability to support two loaded T‑AKE vessels with the proper depth of water, sufficient wharf length, and power and utilities.
Work is commencing immediately and the project is expected to be completed by September 2024. The contract value will be included in the Company’s second-quarter 2022 backlog.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.
