NEW YORK--(BUSINESS WIRE)--
Tutor Perini Corporation (NYSE: TPC), a leading civil and building
construction company, today announced two contracts recently approved
for award by the New York Metropolitan Transportation Authority (MTA)
for portions of the East Side Access (ESA) project, collectively valued
at approximately $844 million.
MTA Contract CM006 – Manhattan North Structures for the East Side
Access Project
The Company’s subsidiary, Frontier-Kemper Constructors, was selected by
the MTA as the best overall technical proposer and best value for the
CM006 contract, valued at approximately $294 million. MTA Capital
Construction recommended the award to Frontier-Kemper and the MTA’s
Board has approved the recommendation. The Company anticipates receiving
the contract award and notice to proceed in the coming weeks. The scope
of work consists of fabrication and construction of the permanent
structural concrete lining, interior structures, and fit-out for caverns
and tunnels previously excavated by other contractors beneath and to the
north of the Grand Central Terminal (GCT) in Manhattan. Five Star
Electric and Superior Gunite, Tutor Perini’s specialty contracting
subsidiaries, will perform certain portions of the work under this
contract. Construction is expected to begin in the second quarter of
2014 and be substantially completed in 2017.
MTA Contract CS179 – Systems Facilities Package No. 1 for the East
Side Access Project
Tutor Perini was selected by the MTA as the best overall technical
proposer and best value for the CS179 contract, valued at approximately
$550 million. MTA Capital Construction recommended the award to Tutor
Perini and the MTA’s Board has approved the recommendation. The Company
anticipates receiving the contract award and notice to proceed in the
coming weeks. Work under this contract will be performed in the Long
Island Rail Road (LIRR) GCT terminus station and the tunnels connecting
Harold Interlocking, a switching station in Queens, to the GCT. Tutor
Perini will be responsible for coordinating overall systems integration
and for interfacing with various systems provided by other contractors.
Five Star Electric, the Company’s specialty contracting subsidiary, will
perform significant work under this contract. Construction is expected
to begin in the second quarter of 2014 and be substantially completed in
2020.
The Company expects to book the value of these contracts into backlog in
the first quarter of 2014.
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