URS Unit to Build TVA Plant for $180M

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Engineering and construction company URS Corp. said Tuesday its recently acquired Washington Division got a long-term agreement to help install gas turbines throughout the Tennessee Valley Authority system.

The agreement initially calls for the Washington Division to add 600 megawatts of capacity to an existing 1,020-megawatt turbine plant near Brownsville, Tenn. That project is valued at $180 million over 2 1/2 years.

URS said TVA is considering more capacity at other sites as well.

The Washington Division is the new name of Washington Group International, which URS acquired for $3.2 billion last month. The company has helped engineer, build, maintain and operate various types of TVA power plants over the past 15 years, Washington Division President Stephen G. Hanks said in a statement.

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Related Tickers

11/9/2009 3:58 PM
TVE $25.80 Up +0.24 +0.94%
TENNESSEE VALLEY A… CAPS Rating: No stars
URS $40.82 Up +0.69 +1.72%
URS Corp CAPS Rating: ***

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