Tutor Perini Corp. said on Wednesday that it has received two rail contracts worth $844 million from the New York Metropolitan Transportation Authority.
The Sylmar construction company will be working on the East Side Access project, which will connect the Long Island Rail Road’s lines to a new terminal beneath the Grand Central Terminal train station in Manhattan. The connection will shorten travel time for Long Island commuters traveling to the east side of Manhattan.
One contract calls for Tutor Perini to construct a concrete lining and interior structures for caverns and tunnels previously excavated by other contractors beneath Grand Central Terminal. The other contract is to integrate all operating systems between a switching station in Queens and Grand Central Terminal.
Shares closed up 71 cents, or 3 percent, to $22.34 on the New York Stock Exchange.