Tutor Perini Announces Accelerate Maryland Partners Will Not Proceed with the Maryland Express Lanes Project

NEW YORK--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it has been advised that Accelerate Maryland Partners LLC (“AM Partners”) will no longer be proceeding with the Maryland Express Lanes Project (previously referred to as Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan). The Company announced in September 2022 that it had been selected by AM Partners as the design and construction contractor for this multi-billion-dollar project. The Company believes that it may have an opportunity to pursue this project again at a future date.

For further details regarding AM Partners’ decision, please refer to Transurban’s press release, which can be found here.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures. With a particular expertise in large transportation and mass-transit projects, Tutor Perini works collaboratively with customers to optimize project designs that further minimize and reduce impacts.