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Benzinga
Benzinga
Business
Akanksha Bakshi

Black Construction-Tutor Perini JV Bags $106.8M Project In Guam

  • Tutor Perini Corp (NYSE:TPC) joint-venture Black Construction-Tutor Perini has secured a firm-fixed-price contract valued at ~$106.8 million from the Naval Facilities Engineering Systems Command, Pacific Division (NAVFAC).
  • The new contract is the second Bachelor Officer Quarters to be awarded by NAVFAC following a similar project previously awarded to the JV in 2021.
  • The contract is funded by the government of Japan as part of the international agreement between the U.S. and Japan for the relocation of military personnel from Okinawa to Guam.
  • The project scope of work includes the construction of a multi-story housing tower with an attached one-story common area wing.
  • Engineering work has commenced, with fieldwork expected to begin in July 2022 and substantial completion anticipated in December 2024.
  • The company will include the contract value in its second-quarter 2022 backlog.
  • Price Action: TPC shares are trading higher by 0.89% at $10.18 on the last check Friday.
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