- Tutor Perini Corp TPC joint venture Black Construction-Tutor Perini has secured a fixed-price contract valued at ~$98.3 million from the Naval Facilities Engineering Systems Command, Pacific Division, to construct a bachelor officer quarters at Marine Corps Base Camp Blaz on Guam.
- Tutor Perini will include the contract value in Q3 2021 backlog.
- The government of Japan funded the contract as part of the international agreement between the U.S. and Japan.
- The project scope includes constructing a multi-story housing tower with an attached one-story common area wing and a detached utility building.
- Engineering work has commenced, with fieldwork expected to begin in November 2021 and substantial completion anticipated in May 2024.
- Price Action: TPC shares are trading lower by 0.44% at $13.55 during the premarket session on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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