Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that the joint venture between its subsidiary, Lunda Construction Company, and Ames Construction, Inc., has been identified by the Minnesota and Wisconsin Departments of Transportation as the low bidder for the St. Croix Crossing Bridge Superstructure project. The joint venture’s bid was approximately $380 million, which includes a time component amount that will be excluded from the contract value. The contact is expected to be awarded by the end of November. Tutor Perini anticipates booking its portion of the contract value into the Company’s backlog in the fourth quarter.
The scope of work for the project includes construction of the main river bridge superstructure, two ramp bridges between Highway 95 and the river crossing (north and south of the main bridge), the Highway 36 box girder approach bridge, and the connecting structure between the river bridge and the Highway 36 approach bridge.
Work on the project is expected to begin in December 2013 and substantial completion is expected by the fall of 2016.
Separately, on November 1, 2013, the Company was awarded the contract for the previously announced $40.9 million Ordot Dump Closure Construction & Dero Road Sewer Improvements project. The value of this award will be included in the Company’s reported fourth-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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV