Tutor Perini to Design High-Speed Rail Project in California

California's high-speed rail project appears to be off and running.

On Wednesday, civil engineering firm Tutor Perini Corp. (NYSE: TPC  ) said the California High-Speed Rail Authority has identified its $985 million bid to design the initial Madera-to-Fresno segment of California's high-speed railway as the "apparent best value" of all bids received.

The contract has not been awarded yet, but Tutor says it expects an official award to be granted in the coming weeks on the nation's first high-speed rail project.

Tutor, based in Sylmar, Calif., is leading a joint venture among itself, Texas-based Zachry Construction Corp., and Pasadena, Calif.'s Parsons Corp., bidding  on this project. Work is expected to begin by July and continue over four years, creating more than 1,000 construction jobs, according to Tutor, and laying the groundwork for a modernized rail system in California.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2368839, ~/Articles/ArticleHandler.aspx, 12/18/2014 2:32:47 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement