Tutor Perini Reports Execution of JV for High-Speed Rail Project in California
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.
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