Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that its James Construction Group subsidiary recently executed a new contract with the Texas Department of Transportation for approximately $241.3 million. The new contract is for a massive project to rebuild a six mile section of I-35 through Temple, Texas. The work encompasses the complete reconstruction of I-35 to widen the existing 4 lanes of the interstate to 8 lanes and add new frontage roads through the city of Temple. The 48 month project is scheduled to begin in mid-2013 and be completed in mid-2017. This section is part of the major capacity expansion program for I-35 between Salado and Hillsboro Texas. With this project award, James now has five I-35 projects in the region, totaling $663 million to be constructed over the next five years. The construction activities for the new contract will include:
- over 1.9 million cubic yards of excavation
- 128,000 linear feet of underground drainage
- 629,000 square feet of retaining walls
- 20 new bridges
- 907,000 square yards of concrete pavement
- 229,000 tons of asphalt and the other miscellaneous items require to complete the new interstate project.