Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that it has executed a contract with the San Francisco Municipal Transportation Agency (SFMTA) valued at approximately $840 million for the Third Street Light Rail Program Phase 2 – Central Subway Stations, Surface, Track and Systems. The SFMTA has also issued its notice to proceed and the Company has begun its initial work on the project.
The scope of work for the project includes construction of three underground subway stations located at Union Square/Market Street, Chinatown, and Yerba Buena Gardens/Moscone Center, a platform station at 4 th and Brannan Streets, and trackwork and systems from the 4 th and Brannan Station to the Chinatown Station. Substantial completion is expected in the second quarter of 2018.
The project is being managed by Tutor Perini’s Civil Group, with several of the Company’s civil and specialty subsidiaries contributing significantly to the project, including Frontier-Kemper Constructors, Becho, Desert Mechanical, Fisk Electric, and Superior Gunite.
The contract value will be included as part of the Company’s reported second 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts