Tutor Perini Corp. and two joint venture partners have reached a $88.7 million settlement with the state of Massachusetts over litigation on the “Big Dig” project through central Boston.

The Sylmar construction company is expected to receive payment by the end of the year. Sharing in the settlement are Kiewit Corp.in Omaha, Neb., and Jay Cashman Inc., in Quincy, Mass.

The settlement, reached on Friday, concludes 15 years of litigation between the joint venture, Massachusetts and its transportation department over payment for additional work on the Central Artery-Tunnel Project, also known as the “Big Dig.”

The project, started in 1991 and completed in 2007, rerouted Interstate 93 in central Boston into a tunnel, extended Interstate 90 through a tunnel and built a new bridge and greenway.

The two sides fought over who was responsible for change orders on the project, and in June, a Massachusetts state judge sided with Tutor Perini and the joint venture partners.

Shares closed up 10 cents, or a fraction of a percent, to $25.88 on the New York Stock Exchange.