Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Tutor Perini to Build San Francisco Subway

Following up on the news that it's the likely winner of a $985 million contract to design the Madera-to-Fresno segment of California's new high-speed railway, civil engineering firm Tutor Perini  (NYSE: TPC  ) announced Tuesday that it's scored a second major contract win.

In San Francisco, the Municipal Transportation Agency (SFMTA) has picked Tutor as the low bidder on phase 2 of its Third Street Light Rail Program. Less high profile than statewide high-speed rail, the SFMTA project is also a bit less lucrative -- but at $840 million in estimated value, only just a bit.

Tutor will be hired to build three underground subway stations for SFMTA, located at Union Square/Market Street, Chinatown, and Yerba Buena Gardens/Moscone Center, as well as a surface-level station at 4th and Brannan Streets and trackwork and systems from the 4th and Brannan Station to the Chinatown Station. 

Tutor says its expects SFMTA to move forward on the project in the next few months, at which point, the company will add the new contract's value to its backlog of contracted work. Actual construction work should begin in Q3 of this year (i.e., next quarter), and the project should be substantially complete five years later, by Q1 2018.

Tutor shares responded positively to the news, rising 0.6% in Tuesday trading to close at $16.54.

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: 2381985, ~/Articles/ArticleHandler.aspx, 4/1/2015 11:36:18 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...