Tutor Perini Wins $97 Million Contract in Guam

Sylmar construction company Tutor Perini Corp. said its Black Construction Corp. subsidiary in Guam has been awarded a $97 million contract to construct significant upgrades at Guam International Airport. Under the contract with the Antonio B. Won Pat International Airport Authority, Black Construction will build a third floor that will act as an isolation corridor over the existing airport concourse. It will require seismically retrofitting and modifying the main structure, Tutor said. Additionally, Black Construction will build eight more arrival pods and do significant upgrades to the architectural, mechanical and electrical systems inside the structure. Construction is expected to begin in March and finish in August 2019. The contract value will be reported as backlog in its fourth-quarter report for 2016, the company said. Shares of Tutor (TPC) fell 5 cents, or less than a percent, to close at $28.70 Wednesday on the New York Stock Exchange.