SYLMAR, Calif., Dec 10, 2010 (BUSINESS WIRE) --
Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that it has been named by the Washington Department of Transportation ("WDOT") as part of the winning team for the SR99 Bored Tunnel Project. The new tunnel is to be constructed by Seattle Tunnel Partners, a joint venture of Dragados USA and TPC.
The team was selected on the basis of price and the team's schedule, design and other factors. Although the Dragados-TPC team had a slightly higher price than their competitor, Seattle Tunnel Partners was selected based on overall price, technical approach and best apparent value. The initial contract value is expected to be $1,089,700,002. TPC's share of the joint venture is 45%.
The project, also known as the "Alaskan Way Viaduct Replacement Project", will involve the construction of approximately 12,500 lf of new roadway, of which 9,273 lf will be constructed using an earth pressure balance tunnel boring machine. At the time of construction, this will be the largest tunnel boring machine construction in the world.
The approach roadways at the North End (800') and the South End (2,400') will be constructed using cut and cover excavation and concrete placement methods. When constructed, the tunnel will allow two lanes of traffic in each direction in a stacked configuration with the North bound lanes on the top and the South bound lanes on the bottom. The stacked configuration will then gradually diverge and rise back to existing ground traffic configurations through the North and South approach roadways.
The contract award and initial notice to proceed are scheduled for January 4, 2011 and will allow preliminary investigations and scheduling in support of the ongoing environmental impact statement review and decision. The second notice to proceed for construction is expected to be issued in August 2011. Final completion and traffic through the tunnel is scheduled for December, 2015.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil and building 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.
We offer general contracting, pre-construction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing and HVAC. We are known for our major complex building project commitments as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private clients throughout the world.
SOURCE: Tutor Perini Corporation
Kekst and Company
Douglas Kiker, 212-521-4800
or
Tutor Perini Corporation
Kenneth Burk, 818-362-8391
Executive Vice President & CFO