Hudson Yards - Multiple Projects - New York, NY - Total $2.3 Billion

Press Release Details

View all news

Tutor Perini Joint Venture Executes Contract for California High-Speed Rail Project

08/20/13

SYLMAR, Calif.--(BUSINESS WIRE)--Aug. 20, 2013-- Tutor Perini Corporation (NYSE:TPC), a leading civil and building construction company, today announced that its joint venture has executed a contract with theCalifornia High-Speed Rail Authority (Authority) for the design and construction of the initial Madera to Fresnosegment of the California high-speed rail system. The contract is valued at approximately $985 million, plus an additional $53 million in provisional sums. Tutor Perini is the managing partner of the joint venture team, which includes Zachry Construction Corporation of San Antonio, Texas and Parsons Corporation ofPasadena, California.

Ronald Tutor , Chairman and CEO of Tutor Perini, said, “We are truly excited to be building the groundwork for America’s first high-speed rail system and look forward to working with the Authority to deliver a high-quality project that will modernize California’s transportation system and support economic growth.”

Tutor Perini’s portion of the contract value, approximately $500 million, will be included as part of the Company’s reported third-quarter backlog.

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. For more about Tutor Perini, please visit www.tutorperini.com.

About Zachry Construction Corporation

Rooted in 85 years of experience, Zachry Construction Corporation was formed in 2008 in a realignment of the Zachry family enterprise. The company’s legacy includes more than 5,500 public and private sector projects across the country and around the world. From the Dallas “High Five” Interchange to the U.S. Embassy in Moscow, Zachry Construction Corporation builds structures that matter. For more about Zachry, please visit www.zachryconstructioncorp.com.

About Parsons Corporation

Parsons, celebrating nearly 70 years of growth in the engineering, construction, technical, and professional services industries, is a leader in many diversified markets with a focus on transportation, environmental/infrastructure, defense/security, and resources. Parsons delivers design/design-build, program/construction management, construction, and other professional services packaged in innovative alternative delivery methods to federal, regional, and local government agencies, as well as to private industrial customers worldwide. For more about Parsons, please visit www.parsons.com.

 

Source: Tutor Perini Corporation

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

Categories: Press Releases
View all news

Stay Informed

To receive notifications via email, enter your email address and select at least one subscription below. After submitting your information, you will receive an email. You must click the link in the email to activate your subscription. You can sign up for additional subscriptions at any time.

* Required

*
*




 
Enter the code shown above.

Connect with us

Los Angeles (Headquarters) 15901 Olden Street Sylmar, CA 91342 (818) 362-8391 Contact