Perini Management Services, Inc. Awarded $44.1 Million San Juan Custom House Renovation Contract

Rhea-AI Summary

Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Perini Management Services, Inc., secured a $44.1 million fixed-price contract from the U.S. Customs and Border Protection for the renovation of the San Juan Custom House in Puerto Rico. This historic building, constructed in 1924, is listed on the National Register of Historic Places. The two-year project involves extensive restoration including facade repairs, structural renovations, and upgrades to mechanical and electrical systems, adhering to preservation guidelines.

Positive

• Awarded a $44.1 million contract for renovation of the historic San Juan Custom House.
• Project enhances the company's backlog for the first quarter of 2021.
• Engagement in a project under the Homeland Security National Multiple Award Construction Contract II (NMACC II) demonstrates government trust.

Negative

• None.

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Perini Management Services, Inc., has been awarded a fixed-price task order contract by the U.S. Customs and Border Protection valued at approximately $44.1 million to repair the San Juan Custom House in Puerto Rico.

The San Juan Custom House, built in 1924, is a Spanish Colonial Revival style building listed on the National Register of Historic Places. Architecturally, it is one of the nation's most distinguished custom houses. The exterior and interior terra cotta ornamentation is especially notable.

The two-year project involves complete renovation and restoration of the historic 2-story building. The project scope entails exterior façade (including terra cotta) repair and restoration, interior structural concrete repairs, interior building renovation, mechanical, electrical and plumbing systems, communications, fire protection system, and site restoration and improvements. All renovation work will follow strict guidelines with regard to preservation of historical fabric for this project.

This task order falls under the Homeland Security National Multiple Award Construction Contract II (NMACC II). The contract value will be included in the Company’s first 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/20210201005838/en/

FAQ

What is the value of the contract awarded to Tutor Perini Corporation?

The contract awarded is valued at approximately $44.1 million.

What is the duration of the San Juan Custom House renovation project?

The renovation project is set to last for two years.

Which subsidiary of Tutor Perini Corporation received the contract?

Perini Management Services, Inc. received the contract.

What historical building is being renovated by Tutor Perini Corporation?

The San Juan Custom House in Puerto Rico is the building being renovated.

Under which contract does the San Juan Custom House renovation fall?

The renovation falls under the Homeland Security National Multiple Award Construction Contract II (NMACC II).