Please ensure Javascript is enabled for purposes of website accessibility

Tutor Perini to Design High-Speed Rail Project in California

By Rich Smith - Apr 17, 2013 at 4:15PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Company says it appears to have won the $985 million contract.

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

On Wednesday, civil engineering firm Tutor Perini Corp. (TPC 1.68%) 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.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Tutor Perini Corporation Stock Quote
Tutor Perini Corporation
TPC
$9.67 (1.68%) $0.16

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
345%
 
S&P 500 Returns
119%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/17/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.