Sylmar, CA – June 17, 2010 – Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that it has won three new contracts totaling approximately $467 million. The contracts were awarded by the San Francisco Public Utilities Commission (SFPUC), the New York State Thruway Authority, and the New Jersey Turnpike Authority (NJTA) for work on the New Irvington Tunnel, the Tappan Zee Bridge, and the Newark Bay Bridge, respectively. The SFPUC and NJTA contracts went to joint ventures that include Tutor Perini.
The New Irvington Tunnel contract, worth approximately $226 million, was awarded to a joint venture comprised of Southland Contracting, Inc. and Tutor Perini. The project includes a new water transmission tunnel parallel to the existing Irvington Tunnel in Fremont, California. The new tunnel will be 3.5 miles long and is estimated to be completed in approximately 48 months.
The Tappan Zee Bridge contract is a $148 million deck replacement and rehabilitation project of the Tappan Zee Bridge, the main crossing between Rockland and Westchester Counties, New York. Tutor Perini will replace a total of 420,000 square feet of deteriorated bridge deck over a span of 2.5 miles. Work is expected to begin in June 2010 and end by November 2012.
The Newark Bay Bridge contract, which provides for a $93 million renovation of the Newark Bay Bridge, was awarded to a joint venture between Ferreira Construction Co. and Tutor Perini. The project involves bridge deck reconstruction and miscellaneous structural, roadway and lighting improvements on the bridge and approach spans. Work is expected to start in June 2010 and end in August 2013.
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.
We offer general contracting, pre-construction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing and HVAC. We are known for our major complex building project commitments as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private clients throughout the world.
Contacts
Kekst and Company
Douglas Kiker, 212-521-4800
Tutor Perini Corporation
Kenneth Burk, Executive Vice President & CFO
818-362-8391
