Tutor Perini Announces $799.5 Million Contract for the Southwest Light Rail Transit Project
19 November 2018 - 10:00PM
Business Wire
Tutor Perini Corporation (NYSE: TPC), a leading civil, building
and specialty construction company, today announced that a joint
venture (JV) between its wholly owned subsidiary, Lunda
Construction, and C.S. McCrossan has been awarded a contract valued
at approximately $799.5 million by the Metropolitan Council for the
Southwest Light Rail Transit project in Minneapolis. This major
regional transportation project, the largest public infrastructure
project in Minnesota’s history, consists of a 14.5-mile extension
of the METRO Green Line and involves construction of new light rail
infrastructure, including 44 bridges, two cut-and-cover tunnels and
16 new light rail stations.
“We are excited to be working with the Metropolitan Council on
this significant project, which will bring substantial enduring
benefits to the region’s economy,” commented Dennis Behnke,
President and CEO of Lunda Construction.
Work is expected to commence in December 2018 with major
construction ramping up in the spring of 2019. When the project was
originally bid in May 2018, the contract duration was 42 months.
The Lunda/McCrossan JV is currently discussing the construction
schedule with the Metropolitan Council to determine a substantial
completion date, based on the impacts that a later-than-anticipated
contract award might have on various portions of the project. The
contract value will be included in the Company’s fourth quarter
2018 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181119005155/en/
Tutor Perini CorporationJorge Casado, 818-362-8391Vice
President, Investor Relations & Corporate
Communicationswww.tutorperini.com
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