Tutor Perini Corporation Announces Bid Results and New Contracts Totaling $457 Million
September 7, 2011
SYLMAR, Calif., Sep 07, 2011 (BUSINESS WIRE) -- Tutor Perini Corporation (NYSE: TPC) a leading civil and building construction company, today announced that it has recently received the following new contracts totaling $457 million.
MD 43 Interchange Reconstruction
Tutor Perini, working with its subsidiary Cherry Hill Construction, has been notified by the Maryland Transportation Authority (MTA) that it is the apparent low bidder on the $143 million contract for the reconstruction of the MD 43 Interchange with the I-95 in Baltimore, Maryland.
This project consists of the reconstruction of 1.6 miles of existing divided highway to provide four additional Express Toll Lanes and the realignment and widening of 1.1 miles of MD 43. Included in this project is the construction of five new bridge structures, removal and replacement of one existing bridge, construction of eight new retaining walls, and signalization including Intelligent Transportation Systems. This will be the fourth express toll lane project that Cherry Hill has performed for the MTA since 2006.
Physical construction operations are scheduled to begin during winter 2011 and be completed in three years.
Drexel University - LeBow College of Business
Tutor Perini, working with its subsidiary Keating Building Company, has been awarded a $70 million contract to build the new LeBow College of Business for Drexel University located in Philadelphia, Pennsylvania.
This project will consist of the construction of a 12-story, 177,500 square foot building with classrooms, offices and student engagement spaces.
Physical construction operations are scheduled to begin in September 2011 and will be substantially completed by the fourth quarter of 2013.
Casino in Cape Girardeau, Missouri
Tutor Perini, working with its subsidiary Roy Anderson Corp, has been awarded by the Isle of Capri Casinos, a $68 million contract to build a new casino in Cape Girardeau, Missouri along the Mississippi River. This project will be a joint venture with St. Louis-based S. M. Wilson & Co.
This project will consist of the construction of a 168,000 square foot, two-level facility with a 41,000 square foot gaming floor, several restaurants, a bar with live entertainment lounge, an 800-seat theater, events center, and 1,000-space parking lot.
Physical construction operations began in June 2011 and will be completed by November 2012.
Fort Lauderdale International Airport Runway Expansion
Tutor Perini has been notified by the Broward County Board of Commissioners that it is the apparent low bidder on the $176 million contract for the expansion of runway 9R-27L at Fort Lauderdale International Airport. This project will be a joint venture with Baker Concrete.
This project will consist of the construction of runway and taxiway structures over U.S. Route 1, the Florida East Coast Railway and the airport's east perimeter road. This contract consists of architectural design, civil, drainage, traffic, environmental, geotechnical, structural, mechanical and electrical services to provide for two multi-cell bridge structures with a combined deck area of approximately 556,000 square feet. This project is the first of a three phase construction program.
Physical construction operations are scheduled to begin in fall 2011 and will be substantially completed by spring 2014.