Tutor Perini - O&G Joint Venture Awarded $1.18 Billion AirTrain Newark Replacement Program - Guideway and Stations Project

NEW YORK--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company, in a joint venture with O&G Industries, Inc. (“O&G”), has been awarded a contract valued at $1.18 billion by the Port Authority of New York and New Jersey for the AirTrain Newark Replacement Program - Guideway and Stations Project at Newark Liberty International Airport in New Jersey. The scope of work includes design and construction of a 2.5-mile elevated, automated people mover train system with three stations that will replace the existing AirTrain, which has been in operation since 1996.

Tutor Perini is the managing partner in the joint venture with O&G serving as a 25% partner. Parsons Corporation (NYSE: PSN) will serve as the joint venture’s lead design subcontractor for the project.

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 customers 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. We offer general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).