Fisk Electric Awarded First Phase of the $147 Million Electrical Contract for a New Harris Health Hospital in Northeast Harris County, Texas
Tutor Perini (NYSE: TPC) announced that its subsidiary, Fisk Electric Company, has been awarded the first phase of a $147 million electrical contract for a new Harris Health hospital in Houston, Texas. The initial phase, valued at approximately $29 million, covers electrical and fire alarm components for the new hospital tower and podium.
The project, contracted by McCarthy Building Companies, Inc., is set to begin in Q4 2024 with substantial completion expected in Q4 2028. The new 12-story hospital will be Harris County's third Level I trauma center, featuring 390 private rooms, 15 operating rooms, and a rooftop helipad. The facility will span approximately 1.3 million square feet and is designed to handle a wide range of medical procedures.
Tutor Perini (NYSE: TPC) ha annunciato che la sua sussidiaria, Fisk Electric Company, ha ricevuto il contratto per la prima fase di un progetto elettrico del valore di 147 milioni di dollari per un nuovo ospedale Harris Health a Houston, Texas. La fase iniziale, valutata a circa 29 milioni di dollari, comprende i componenti elettrici e di allarme antincendio per la nuova torre e il podio dell'ospedale.
Il progetto, contratto da McCarthy Building Companies, Inc., dovrebbe iniziare nel Q4 2024 con una conclusione sostanziale prevista per il Q4 2028. Il nuovo ospedale di 12 piani sarà il terzo centro trauma di livello I della contea di Harris, dotato di 390 stanze private, 15 sale operatorie e un eliporto sul tetto. La struttura si estenderà su circa 1,3 milioni di piedi quadrati ed è progettata per gestire una vasta gamma di procedure mediche.
Tutor Perini (NYSE: TPC) anunció que su subsidiaria, Fisk Electric Company, ha sido adjudicada la primera fase de un contrato eléctrico de 147 millones de dólares para un nuevo hospital de Harris Health en Houston, Texas. La fase inicial, valorada en aproximadamente 29 millones de dólares, cubre los componentes eléctricos y de alarma contra incendios para la nueva torre y podio del hospital.
El proyecto, contratado por McCarthy Building Companies, Inc., comenzará en Q4 2024 con una finalización sustancial esperada para Q4 2028. El nuevo hospital de 12 pisos será el tercer centro de trauma de Nivel I del condado de Harris, con 390 habitaciones privadas, 15 quirófanos y una azotea para helicópteros. La instalación abarcará aproximadamente 1.3 millones de pies cuadrados y está diseñada para manejar una amplia gama de procedimientos médicos.
Tutor Perini (NYSE: TPC)는 자회사인 Fisk Electric Company가 텍사스 휴스턴에 새로 건설되는 Harris Health 병원에 대해 1억 4,700만 달러 규모의 전기 계약 첫 단계를 수주했다고 발표했습니다. 초기 단계는 약 2,900만 달러로 평가되며, 새로운 병원 타워와 포디움의 전기 및 화재 경고 구성 요소를 포함합니다.
이 프로젝트는 McCarthy Building Companies, Inc.에 의해 계약되었으며, 2024년 4분기에 시작될 예정이며, 2028년 4분기까지 실질적인 완공이 예상됩니다. 새로 건설될 12층 병원은 Harris 카운티의 세 번째 1급 외상 센터로, 390개의 개인실, 15개의 수술실 및 옥상 헬리패드가 마련될 예정입니다. 이 시설은 약 130만 제곱피트에 달하며, 다양한 의료 절차를 처리할 수 있도록 설계되었습니다.
Tutor Perini (NYSE: TPC) a annoncé que sa filiale, Fisk Electric Company, a reçu le contrat de première phase pour un contrat électrique de 147 millions de dollars pour un nouvel hôpital Harris Health à Houston, Texas. La phase initiale, évaluée à environ 29 millions de dollars, concerne les composants électriques et les alarmes incendie pour la nouvelle tour et le podium de l'hôpital.
Le projet, contracté par McCarthy Building Companies, Inc., devrait commencer au Q4 2024, avec une finition substantielle prévue pour le Q4 2028. Le nouvel hôpital de 12 étages sera le troisième centre de traumatisme de niveau I du comté de Harris, avec 390 chambres privées, 15 salles d'opération et un héliport sur le toit. L'établissement couvrira environ 1,3 million de pieds carrés et est conçu pour gérer un large éventail de procédures médicales.
Tutor Perini (NYSE: TPC) hat bekannt gegeben, dass ihre Tochtergesellschaft Fisk Electric Company mit der ersten Phase eines 147 Millionen Dollar großen Elektrovertrags für ein neues Harris Health Krankenhaus in Houston, Texas, beauftragt wurde. Die erste Phase, die auf etwa 29 Millionen Dollar geschätzt wird, umfasst elektrische und Brandschutzkomponenten für den neuen Krankenhaus-Turm und das Podium.
Das Projekt, das von McCarthy Building Companies, Inc. beauftragt wurde, soll im Q4 2024 beginnen, mit einer wesentlichen Fertigstellung, die im Q4 2028 erwartet wird. Das neue 12-stöckige Krankenhaus wird das dritte Level-I-Trauma-Zentrum im Harris County sein, mit 390 Privatzimmern, 15 Operationssälen und einer Dachlandebahn. Die Einrichtung wird etwa 1,3 Millionen Quadratfuß groß sein und ist darauf ausgelegt, eine Vielzahl von medizinischen Verfahren durchzuführen.
- Fisk Electric awarded $29 million first phase of a $147 million contract
- Project adds to Tutor Perini's backlog in Q3 2024
- Contract includes potential for additional phases to be added to backlog
- Large-scale project with completion expected in Q4 2028
- None.
Insights
The award of this
- The initial
$29 million phase has been added to TPC's backlog in Q3 2024, with the remaining portions to be added as subsequent phases are awarded. This provides visibility into future revenue streams. - The project's long-term nature, with completion expected in Q4 2028, offers stable cash flow for an extended period.
- This large-scale hospital project showcases Fisk Electric's capabilities in complex, high-value contracts, potentially leading to similar opportunities in the future.
- The contract's size is substantial relative to TPC's
$1.42 billion market cap, indicating its potential to meaningfully impact the company's financial performance.
While positive, investors should monitor project execution and the timing of subsequent phase awards to fully assess the impact on TPC's long-term growth and profitability.
This contract award highlights several key trends in the construction industry:
- The healthcare sector continues to be a strong driver of construction activity, with large-scale hospital projects like this becoming more common.
- The use of a guaranteed maximum price contract structure indicates a focus on cost control and risk management for both the contractor and the project owner.
- The phased approach to contract awards allows for better project management and flexibility in execution.
- The inclusion of advanced features like a rooftop helipad and hybrid operating room underscores the increasing technological complexity of modern healthcare facilities.
For Tutor Perini, this project demonstrates their ability to secure high-value, technically demanding contracts in competitive markets. It also positions them well in the growing healthcare construction segment, which could be a significant source of future revenue as healthcare infrastructure continues to expand and modernize across the United States.
Rendering of the new Harris Health hospital (source: HKS Architects)
The new 12-story hospital – slated to become Harris County’s third Level I trauma center – is expected to open in late 2028. The new hospital will include approximately 1.3 million square feet and will feature 390 private rooms, with the space to add 60 more when additional capacity is needed. With a rooftop helipad, 15 dedicated operating rooms and a cutting-edge hybrid operating room, the hospital is designed to cater to a wide range of medical needs from routine procedures to the most complex emergency surgeries.
The initial
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 customers 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. We offer general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).
About Harris Health
Harris Health is the public healthcare safety-net provider established in 1966 to serve the residents of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241003629033/en/
Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com
Source: Tutor Perini Corporation
FAQ
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