Tutor Perini Joint Venture Awarded $98.3 Million Contract

The Black Construction-Tutor Perini joint venture has landed a $98.3 million fixed-price contract for the construction of a bachelor officer quarters at Marine Corps Base Camp Blaz in Guam.The Sylmar construction company and its subsidiary Black Construction received the contract from the Naval Facilities Engineering Systems Command, Pacific Division. The contract is funded by the Japanese government as part of an international agreement between the U.S. and Japan.The contract calls for the construction of a multi-story housing tower with an attached one-story common area wing, as well as a detached utility building. The building will feature single-occupancy housing units with a living room, bedroom, closet, private bath, kitchen and laundry.Engineering work has already commenced, and field work is expected to begin Nov. 21. Substantial completion is anticipated for May 2024.Shares of Tutor Perini Corp. (TPC) closed Thursday down 22 cents, or 1.6 percent, to $13.39 on the Nasdaq y, a market that closed up a fraction of a percent.