Tutor Perini - O&G Joint Venture Awarded $1.18 Billion AirTrain Newark Replacement Program - Guideway and Stations Project
Tutor Perini (NYSE: TPC) and O&G Industries have been awarded a $1.18 billion contract by the Port Authority of New York and New Jersey for the AirTrain Newark Replacement Program. The project involves designing and constructing a 2.5-mile elevated, automated people mover train system with three stations at Newark Liberty International Airport, replacing the existing AirTrain that has operated since 1996. Tutor Perini is the managing partner with O&G holding a 25% stake, while Parsons will serve as the lead design subcontractor.
Tutor Perini (NYSE: TPC) e O&G Industries hanno ricevuto un contratto di 1,18 miliardi di dollari dall'Autorità Portuale di New York e del New Jersey per il Programma di Sostituzione dell'AirTrain di Newark. Il progetto prevede la progettazione e costruzione di un sistema di treni automatici elevati di 2,5 miglia con tre stazioni all'Aeroporto Internazionale di Newark Liberty, sostituendo l'attuale AirTrain che opera dal 1996. Tutor Perini è il partner principale con O&G che detiene una quota del 25%, mentre Parsons sarà il principale subappaltatore per la progettazione.
Tutor Perini (NYSE: TPC) y O&G Industries han recibido un contrato de 1.18 mil millones de dólares de la Autoridad Portuaria de Nueva York y Nueva Jersey para el Programa de Sustitución del AirTrain de Newark. El proyecto implica el diseño y la construcción de un sistema de trenes automáticos elevados de 2.5 millas con tres estaciones en el Aeropuerto Internacional de Newark Liberty, reemplazando el AirTrain existente que ha estado en operación desde 1996. Tutor Perini es el socio principal, con O&G poseyendo una participación del 25%, mientras que Parsons será el subcontratista principal de diseño.
투터 페리니 (NYSE: TPC)와 O&G 산업이 뉴욕 및 뉴저지 항만청으로부터 118억 달러 계약을 체결했습니다. 이 계약은 뉴어크 공항의 공항철도 교체 프로그램을 위해, 2.5마일 길이의 자동화된 고가 인버스 시스템 디자인 및 건설을 포함합니다. 이 시스템은 1996년부터 운영되고 있는 기존의 공항철도를 대체하게 됩니다. 투터 페리니가 주 파트너이며 O&G는 25%의 지분을 보유하고 있습니다. 파슨스는 주요 설계 하청업체로 활동할 것입니다.
Tutor Perini (NYSE: TPC) et O&G Industries ont obtenu un contrat de 1,18 milliard de dollars de l'Autorité Portuaire de New York et du New Jersey pour le Programme de Remplacement de l'AirTrain de Newark. Le projet consiste à concevoir et construire un système de train automatique surélevé de 2,5 miles avec trois stations à l'Aéroport International de Newark Liberty, remplaçant l'AirTrain existant qui est en service depuis 1996. Tutor Perini est le partenaire principal avec O&G détenant une participation de 25%, tandis que Parsons agira en tant que sous-traitant principal pour la conception.
Tutor Perini (NYSE: TPC) und O&G Industries haben von der Hafenbehörde von New York und New Jersey einen Vertrag über 1,18 Milliarden Dollar für das Ersatzprogramm des AirTrain Newark erhalten. Das Projekt umfasst das Design und den Bau eines 2,5 Meilen langen, automatisierten Hochbahn-Transfersystems mit drei Stationen am Flughafen Newark Liberty International, das den bestehenden AirTrain ersetzt, der seit 1996 in Betrieb ist. Tutor Perini ist der Hauptpartner, während O&G 25% hält und Parsons als leitender Designunterauftragnehmer fungiert.
- Secured major $1.18 billion contract for infrastructure project
- Leading role as managing partner in strategic joint venture
- Project adds significant value to company's contract backlog
- None.
Insights
This
The partnership with O&G Industries and Parsons brings together strong expertise in large-scale infrastructure projects. The AirTrain replacement is part of a broader modernization effort at Newark Liberty International Airport, one of the nation's busiest airports. Infrastructure projects of this magnitude typically offer stable, long-term revenue streams and better profit margins compared to traditional building construction.
This contract significantly bolsters TPC's already robust infrastructure portfolio and strengthens its position in the northeastern U.S. market. The project's federal backing and essential nature provide relative insulation from economic cycles, while the involvement of the Port Authority of NY&NJ as the client adds credibility and payment security.
Tutor Perini is the managing partner in the joint venture with O&G serving as a
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).
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Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com
Source: Tutor Perini Corporation
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