Lunda Construction Team Awarded $220 Million I-70 Missouri River Bridge Design-Build Project

Rhea-AI Summary

Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Lunda Construction Company, has been selected by the Missouri Department of Transportation for the design and construction of the new I-70 Missouri River Bridge near Rocheport, Missouri. The project includes two bridges to facilitate traffic flow with minimal disruption. Design work will begin after contract execution, with construction expected to start later this year and substantial completion by the end of 2024. The project budget is set at $220 million, which will contribute to TPC's backlog in Q3 2021.

Positive

• Awarded $220 million contract for I-70 Missouri River Bridge project.
• Limited traffic impact due to dual bridge design.
• Project expected to enhance TPC's backlog in Q3 2021.

Negative

• None.

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a design-build team led by its subsidiary, Lunda Construction Company (“Lunda”), has been selected by the Missouri Department of Transportation for the design and construction of the new I-70 Missouri River Bridge near Rocheport, Missouri. Lunda’s design team is comprised of Parsons Corporation (NYSE: PSN), Dan Brown & Associates and HZ United. The project consists of the design and construction of two Missouri River bridges, one in each direction of travel, each with three lanes, which will allow for construction to take place with a limited impact to traffic. Lunda is also replacing the County Road BB Bridge over I-70.

Design work is expected to commence shortly after contracts are executed, with construction scheduled to begin later this year and substantial completion expected by the end of 2024. The construction budget for this project is $220 million. The contract value is anticipated to be included in the Company’s third-quarter 2021 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210712005063/en/

FAQ

What is Tutor Perini Corporation's latest project announcement?

Tutor Perini announced that its subsidiary, Lunda Construction, will design and construct the I-70 Missouri River Bridge.

What is the budget for the I-70 Missouri River Bridge project?

The construction budget for the I-70 Missouri River Bridge project is $220 million.

When is the construction of the I-70 Missouri River Bridge scheduled to begin?

Construction is scheduled to begin later this year.

When is the expected completion date for the I-70 Missouri River Bridge?

Substantial completion of the project is expected by the end of 2024.

How will the new Missouri River Bridge impact traffic?

The design of two bridges allows for construction with limited impact to traffic.