Primoris Services Corporation Announces New Contract Work Valued at over $241M
Primoris Services Corporation (NASDAQ: PRIM) today announced that its James Construction Group subsidiary recently executed a new contract with the Texas Department of Transportation for approximately $241.3 million.
The new contract is for a massive project to rebuild a six mile section of I-35 through Temple, Texas. The work encompasses the complete reconstruction of I-35 to widen the existing 4 lanes of the interstate to 8 lanes and add new frontage roads through the city of Temple. The 48 month project is scheduled to begin in mid-2013 and be completed in mid-2017. This section is part of the major capacity expansion program for I-35 between Salado and Hillsboro Texas. With this project award, James now has five I-35 projects in the region, totaling $663 million to be constructed over the next five years. The construction activities for the new contract will include:
over 1.9 million cubic yards of excavation 128,000 linear feet of underground drainage 629,000 square feet of retaining walls 20 new bridges 907,000 square yards of concrete pavement 229,000 tons of asphalt and the other miscellaneous items require to complete the new interstate project.
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