Tutor Perini Corporation (NYSE:TPC), a leading civil and building
construction company, today announced that its joint venture has
executed a contract with the California High-Speed Rail Authority
(Authority) for the design and construction of the initial Madera to
Fresno segment of the California high-speed rail system. The contract is
valued at approximately $985 million, plus an additional $53 million in
provisional sums. Tutor Perini is the managing partner of the joint
venture team, which includes Zachry Construction Corporation of San
Antonio, Texas and Parsons Corporation of Pasadena, California.
Ronald Tutor, Chairman and CEO of Tutor Perini, said, “We are truly
excited to be building the groundwork for America’s first high-speed
rail system and look forward to working with the Authority to deliver a
high-quality project that will modernize California’s transportation
system and support economic growth.”
Tutor Perini’s portion of the contract value, approximately $500
million, will be included as part of the Company’s reported
third-quarter backlog.
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. For more about Tutor Perini, please visit www.tutorperini.com.
About Zachry Construction Corporation
Rooted in 85 years of experience, Zachry Construction Corporation was
formed in 2008 in a realignment of the Zachry family enterprise. The
company’s legacy includes more than 5,500 public and private sector
projects across the country and around the world. From the Dallas “High
Five” Interchange to the U.S. Embassy in Moscow, Zachry Construction
Corporation builds structures that matter. For more about Zachry, please
visit www.zachryconstructioncorp.com.
About Parsons Corporation
Parsons, celebrating nearly 70 years of growth in the engineering,
construction, technical, and professional services industries, is a
leader in many diversified markets with a focus on transportation,
environmental/infrastructure, defense/security, and resources. Parsons
delivers design/design-build, program/construction management,
construction, and other professional services packaged in innovative
alternative delivery methods to federal, regional, and local government
agencies, as well as to private industrial customers worldwide. For more
about Parsons, please visit www.parsons.com.
Copyright Business Wire 2013