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Tutor Perini Announces Two Projects Collectively Valued at $218.8 Million
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) announced the awarding of two significant contracts. The first, valued at $161,815,880, involves site development and construction at Tinian International Airport, set to mobilize in April 2022 and finish by October 2025. The second contract, worth $56,970,960, for the J-015 Enlisted Dining Facility at Camp Blaz Marine Corps Base Guam, is funded by the Government of Japan, with work starting immediately and completion expected by December 2023.
Positive
Awarded a contract valued at $161,815,880 by NAVFAC Pacific for Tinian International Airport, expanding project backlog.
Secured a $56,970,960 contract for the J-015 Enlisted Dining Facility, enhancing revenue from government projects.
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 subsidiary, Black Micro Construction Corp., has been awarded a firm fixed-price contract valued at $161,815,880 by the Naval Facilities Engineering Systems Command, Pacific Division (“NAVFAC Pacific”), for site development and construction of an aircraft parking apron and taxiway at the Tinian International Airport, Tinian, Commonwealth of the Northern Mariana Islands. Initial mobilization to the island will begin in April 2022, with work to commence in June and be completed by October 2025. The project will be included in the Company’s fourth-quarter 2021 backlog.
In addition, the Black Construction-Tutor Perini JV has been awarded a firm fixed-price contract valued at $56,970,960 by NAVFAC Pacific for the J-015 Enlisted Dining Facility project at Camp Blaz Marine Corps Base Guam. The contract supports the Defense Policy Review Initiative and is funded by the Government of Japan as part of the International Agreement between the United States and Japan. The 40,000 square-foot enlisted dining facility will serve 1,020 customers per hour. The project also provides a 3,000 square foot cold storage warehouse, a 2,000 square foot general-purpose warehouse and over 7,000 square yard of paved parking and loading areas, among other features. Work is expected to begin immediately and be completed in December 2023. The project will be included in the Company’s fourth-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.
What contracts were awarded to Tutor Perini Corporation (TPC) recently?
Tutor Perini Corporation (TPC) was awarded two contracts: one for $161,815,880 for Tinian International Airport and another for $56,970,960 for the J-015 Enlisted Dining Facility at Camp Blaz.
When is the construction for the Tinian International Airport expected to be completed?
The construction at Tinian International Airport is expected to be completed by October 2025.
What is the value of the contract for the J-015 Enlisted Dining Facility?
The contract for the J-015 Enlisted Dining Facility is valued at $56,970,960.
Who is funding the J-015 Enlisted Dining Facility project?
The J-015 Enlisted Dining Facility project is funded by the Government of Japan.
When will work begin on the J-015 Enlisted Dining Facility?
Work on the J-015 Enlisted Dining Facility is expected to begin immediately.
