Tutor Perini Corporation
) has secured construction work contracts worth $77 million. The
deal covers three new projects in Guam.
Black Construction Corporation (BCC), a unit of Tutor Perini, was
declared the low bidder for the Ordot Dump Closure Construction
and Dero Road Sewer Improvements project with a bid of around
$40.9 million. This project involves the maximum volume of work.
The project will undertake construction of facilities both
temporary and permanent, for excavation, grading, drainage and
erosion controls. The construction is slated to begin in
first-quarter 2014 and wrap up by Jul 2015.
The second project, awarded by the U.S. Naval Facilities
Engineering Command, has been valued at $23.8 million. The
project involves upgrade of 60 existing housing units at Lockwood
Terrace on Naval Base Guam. The work includes expansion of the
current living spaces and reorganization of interior living areas
to meet current Navy standards. This work is scheduled to begin
in Apr 2014 and will be completed by Sep 2015.
Finally, a $12.7 million contract was awarded to BCC by the Lotte
Duty Free Retail for architectural finishing work inside the Guam
International Airport. Under this project, various public retail
and boutique areas will get architectural, mechanical,
electrical, fire protection, renovations and finish work. This
work is slated to commence in Oct and be over in Mar 2014.
Tutor Perini expects to book the value of the Ordot Dump Closure
Construction and Guam Airport contract into the backlog for the
fourth quarter of 2013. The contract awarded by the U.S. Navy
will be included in the backlog for the third quarter of 2013.
Sylmar, Calif.-based Tutor Perini Corporation is a foremost civil
and building construction company, offering diversified general
contracting and design-build services to private clients and
public agencies globally.
Tutor Perini currently retains a Zacks Rank #4 (Sell). Among
other stocks in the same industry,
Empresas ICA, S.A.B. de C.V.
Great Lakes Dredge & Dock Corporation
Hopewell Highway Infrastructure Limited
) are favorable investment options. All these hold a Zacks Rank
GREAT LAKES DRG (GLDD): Free Stock Analysis
HOPEWELL HWY IN (HHILY): Get Free Report
EMPRESAS ICA (ICA): Free Stock Analysis
TUTOR PERINI CP (TPC): Free Stock Analysis
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