Tutor Perini Announces Pending Award for $840 Million San Francisco Central Subway Project
Tutor Perini Corporation (NYSE: TPC), a leading civil and building
construction company, today announced that the Company has been
identified by the San Francisco Municipal Transportation Agency (SFMTA)
as the low bidder for the Third Street Light Rail Program Phase 2 –
Central Subway. The Company’s bid was approximately $840 million. The
SFMTA’s Board of Directors is expected to move forward with a contract
for this project sometime in the next few months. Once the contract is
awarded, Tutor Perini will book the contract value into the Company’s
backlog.
The scope of work for the project includes construction of three
underground subway stations located at Union Square/Market Street,
Chinatown, and Yerba Buena Gardens/Moscone Center, a surface-level
station at 4th and Brannan Streets, and trackwork and systems
from the 4th and Brannan Station to the Chinatown Station.
Work on the project is planned to begin in the third quarter of 2013 and
substantial completion is expected in the first quarter of 2018.
“We are very excited to be identified as the low bidder for construction
of the next phase of San Francisco’s Central Subway system,” said Ronald
Tutor, Chairman and CEO of Tutor Perini. Tutor continued, “Tutor Perini
has a proven record of successful completion of major rail projects in
the Bay Area, including having previously constructed the BART extension
to the San Francisco International Airport.”
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.
