Tutor Perini Announces Apparent Low Bid for the $519 Million Raritan River Bridge Replacement Project

Rhea-AI Summary

Tutor Perini Corporation (NYSE: TPC) has been identified as the low bidder for New Jersey Transit’s Raritan River Bridge Replacement Project, with a bid of approximately $519 million. This project aims to replace a 114-year-old bridge between South Amboy and Perth Amboy, which was damaged by Superstorm Sandy in 2012. The new bridge is designed to resist future storm surges and severe weather. The anticipated contract award is expected in Q4 2022, with work commencing shortly thereafter.

Positive

• Apparent low bidder for Raritan River Bridge Replacement Project valued at $519 million.
• Project focuses on resilience with modern structural designs to withstand severe weather.

Negative

• No negative aspects reported.

NEW YORK--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it has been identified as the apparent low bidder for New Jersey Transit’s Raritan River Bridge Replacement Project, with a submitted bid valued at approximately $519 million. The Raritan River Bridge Replacement Project will replace the 114-year-old bridge, connecting South Amboy, NJ and Perth Amboy, NJ, which was damaged by Superstorm Sandy in 2012. The new bridge will integrate resilient structural designs and materials to withstand future storm surges and be significantly less vulnerable to severe weather events. The project scope of work includes construction of the lift bridge and flanking spans superstructure, communications and signal systems, and overhead catenary work, as well as miscellaneous civil and structural work, wetland mitigation work and the demolition of the existing bridge as necessary to construct the bridge fender system as well as to provide a fully functioning navigational channel beneath the newly constructed bridge.

Contract award is anticipated in the fourth quarter of 2022, with commencement of work to subsequently follow.

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/20220726005391/en/

Tutor Perini Corporation

Jorge Casado, 818-362-8391

Vice President, Investor Relations and Corporate Communications

www.tutorperini.com

Source: Tutor Perini Corporation

FAQ

What is Tutor Perini's latest bid for the Raritan River Bridge Replacement Project?

Tutor Perini submitted a bid of approximately $519 million for the Raritan River Bridge Replacement Project.

When is the contract award expected for the Raritan River Bridge Replacement Project?

The contract award for the Raritan River Bridge Replacement Project is anticipated in the fourth quarter of 2022.

What are the main goals of the Raritan River Bridge Replacement Project?

The project aims to replace a damaged bridge and integrate resilient designs to withstand future storm surges and extreme weather.

What historical significance does the bridge have?

The bridge being replaced is 114 years old and was damaged during Superstorm Sandy in 2012.