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Tutor Perini Announces Pending Award for $840 Million San Francisco Central Subway Project

04/23/13

SYLMAR, Calif.--(BUSINESS WIRE)--Apr. 23, 2013-- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that the Company has been identified by the San Francisco Municipal Transportation Agency (SFMTA) as the low bidder for the Third Street Light Rail Program Phase 2 –Central Subway. The Company’s bid was approximately $840 million. The SFMTA’s Board of Directors is expected to move forward with a contract for this project sometime in the next few months. Once the contract is awarded, Tutor Perini will book the contract value into the Company’s backlog.

The scope of work for the project includes construction of three underground subway stations located atUnion Square/Market Street, Chinatown, and Yerba Buena Gardens/Moscone Center, a surface-level station at 4th and Brannan Streets, and trackwork and systems from the 4th and Brannan Station to the Chinatown Station. Work on the project is planned to begin in the third quarter of 2013 and substantial completion is expected in the first quarter of 2018.

“We are very excited to be identified as the low bidder for construction of the next phase of San Francisco’sCentral Subway system,” said  Ronald Tutor , Chairman and CEO of Tutor Perini. Tutor continued, “Tutor Perini has a proven record of successful completion of major rail projects in the Bay Area, including having previously constructed the BART extension to the San Francisco International Airport.”

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.

 

Source: Tutor Perini Corporation

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Director, Investor Relations
www.tutorperini.com

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