O&G/Tutor Perini Joint Venture Awarded Connecticut River Bridge Replacement Project

Tutor Perini (NYSE: TPC) announced that it has been awarded a contract for the Connecticut River Bridge Replacement Project in a joint venture with O&G Industries.

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07/02/2024 - 02:25 PM EDT

LOS ANGELES--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company, in a joint venture with O&G Industries, Inc. (“O&G”), has been awarded a contract by Amtrak for the Connecticut River Bridge Replacement Project. The project will involve building a two-track, electrified and resilient bascule (movable) bridge structure equipped with new track, signal, catenary, power, communication, controls and security features along the Northeast Corridor. The project aims not only to address the bridge's current structural deficiencies, but also to modernize it, enhancing vertical clearance and increasing speed capabilities.

Amtrak’s approximately $1.3 billion project is primarily funded by the Infrastructure Investment & Jobs Act (IIJA), through a $826.6 million federal grant awarded by Federal Railroad Administration. The remaining portion will be funded by Amtrak and the state of Connecticut. Work is expected to begin in late summer/early fall 2024 with substantial completion anticipated in 2031. Tutor Perini is a 30% partner in the joint venture, and its proportionate share of the contract value will be added to the Company’s backlog in the second quarter of 2024.

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 customers 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 planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).