Fisk Electric Awarded Central District Wastewater Treatment Plant Project

Rhea-AI Summary

Tutor Perini Corporation's subsidiary, Fisk Electric, has been awarded a $40 million contract for the Miami-Dade County Water and Sewer Department's Ocean Outfall Legislation Program.

Positive

• Tutor Perini Corporation's subsidiary, Fisk Electric, has secured a significant contract worth over $40 million.
• The contract will contribute to the Company's backlog starting in the third quarter of 2023.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Fisk Electric Company (“Fisk Electric”), has been awarded a contract valued at more than $40 million for the Miami-Dade County Water and Sewer Department’s Ocean Outfall Legislation Program, Construction Package CT-3C-A, Electrical Distribution Building 2 (EDB-2), Contract No. S-949A. The overall project was awarded to Poole & Kent as the General Contractor with Fisk Electric providing a complete electrical scope for the project. The project scope includes a new 45,000 square-foot electrical distribution building, eight 13.2kV Tier 4 diesel engine generators, associated piping control systems, service air, a fuel oil and emission fluid bulk storage area, and the electrical ductbank system connecting the building with new corresponding substations. The project is located at the Central District Wastewater Treatment Plant in Key Biscayne, Florida. Fisk Electric has previously performed four other electrical projects at this site collectively totaling more than $32 million in contract value.

Work on this new project has already commenced with substantial completion anticipated in the first quarter of 2027. The contract value will be included in the Company’s backlog beginning in the third quarter of 2023.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231009788997/en/

Tutor Perini Corporation

Jorge Casado, 818-362-8391

Vice President, Investor Relations and Corporate Communications

www.tutorperini.com

Source: Tutor Perini Corporation

What is the value of the contract awarded to Fisk Electric?

The contract awarded to Fisk Electric is valued at over $40 million.

When is the anticipated completion date for the project?

The project is expected to be substantially completed in the first quarter of 2027.

How will this contract impact Tutor Perini Corporation?

This contract will contribute to Tutor Perini Corporation's backlog starting in the third quarter of 2023.