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TheStreet Open House

Primoris Subsidiary Awarded $82M In New Contracts

DALLAS (AP) â¿¿ Primoris Services Corp. said Thursday its James Construction Group subsidiary was awarded four contracts valued at about $82.5 million.

The largest is a $70 million contract from the Texas Department of Transportation for construction on I-35 through Salado, Texas. It includes 10 bridges and 700,000 cubic yards of excavation. The project is scheduled to begin in the fourth quarter of 2011 and extend through the second quarter of 2014.

James Construction also was awarded two contracts in the Houston region totaling $6.8 million for the city of Anahuac and Harris County to construct drainage systems and chilled water lines.

The James office in Mulberry, Fla., was awarded a contract valued at $5.7 million for reclamation work associated with phosphate mining activities in central Florida.

Each of these projects should begin in the third quarter of 2011 and be completed by the second quarter of 2012.

Lake Forest, Calif.-based Primoris provides construction, maintenance, engineering, and other services to public utilities, energy companies, and other customers.

Shares fell 60 cents, or 5.2 percent, to $10.90. They've traded between $5.62 and $14.75 in the past year.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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