Tutor Perini Low Bids $840 MillionTuesday, April 23, 2013
Tutor Perini Corp. announced on Tuesday that it was identified as the low bidder for work on the San Francisco Central Subway Project.
The Sylmar construction firm said it bid $840 million for the second phase of the San Francisco Municipal Transportation Agency’s Third Street Light Rail Program. An award is expected to be announced in the next few months.
“Tutor Perini has a proven record of successful completion of major rail projects in the Bay Area, including having previously constructed the BART extension to the San Francisco International Airport,” said Chief Executive Ronald Tutor, in a statement.
The contract would include three underground subway stations, a surface-level station, and track work and systems between the surface-level station and an existing stop. The construction is scheduled to begin this fall.
The announcement comes less than a week after the company was named the front-runner for another high-profile project: the first phase of the state’s high speed rail system. That joint-venture contract with the California High Speed Rail Authority has an estimated value of $1 billion.
Shares gained 9 cents, or less than 1 percent, to close at $16.54 on the New York Stock Exchange.