May 12 2010
Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that, along with six other companies, it has received a $4 billion maximum capacity, indefinite-delivery indefinite-quantity (IDIQ) design-build multiple award construction contract (MACC) from the Naval Facilities Engineering Command (NAVFAC) Pacific for work at sites in Guam and other locations in the Pacific area of responsibility.
The contract is the largest ever granted by NAVFAC Pacific.
According to the NAVFAC Pacific, the MACC is for a base period of 12 months and includes four one-year option periods. Options are for time only and do not adjust the maximum contract amount. All work under the MACC will be initiated by task orders, for which Tutor Perini and the six other companies will compete.
The work will include new construction, renovation, and additions or upgrades to a wide range of facility types, including roads, bridges, barracks, dormitories, educational and medical buildings, waterfront-marine facilities, hangers, runways, and much more. In the interest of environmental sustainability, the projects will incorporate Leadership in Energy and Environmental Design (LEED) building standards.
Ronald Tutor, Chief Executive Officer of Tutor Perini, said: “We are extremely pleased to have an opportunity to participate in the MACC and look forward to building vital Naval facilities in the Pacific. Guam is a key market for us, so the chance to increase our activities there is particularly welcome.”
Source: http://www.perini.com/