Tutor Perini Corp. announced Monday that it won contracts to carry out two civil construction projects, totaling $102 million.
The Delaware Department of Transportation hired the Sylmar construction company to build a 3.4 mile section of U.S. 301 toll road, including ramps and interchanges, for approximately $70 million. Construction is scheduled to begin next month and should be complete by the end of 2018.
Additionally, the Federated States of Micronesia awarded Tutor Perini’s Guam-based subsidiary Black Construction a contract valued at a little less than $33 million. Funded by the U.S. Federal Aviation Administration under its Airport Improvement Program, the work will include renovations to taxiway surfaces and a runway at Chuuk International Airport in Micronesia. The project is scheduled to begin next month and should be near completion by the end of 2017.
Tutor Perini shares closed down 72 cents or 4.4 percent to $15.64 on the New York Stock Exchange.