-

Tutor Perini-O&G JV Announces Pending Contract for the $3.76 Billion New York City Borough-Based Jail System, Manhattan Facility

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Tutor Perini-O&G Joint Venture is in the process of executing contract documents for the previously announced Manhattan Jail Project in New York. The City of New York recently held a public hearing regarding the proposed contract for this project between the New York City Department of Design and Construction and the Tutor Perini-O&G JV. The anticipated contract amount is $3,764,251,168. The contract term is expected to be 2,646 consecutive calendar days (seven years and three months) until final completion.

The project scope includes design and construction of a new state-of-the-art facility that will have dedicated space for on-site services and programming, indoor and outdoor recreation, food services, staff offices and facilities, amenities, below-grade accessory parking, and a secured entry. The new facility will contain 1,040 beds and provide 125 accessory parking spaces below grade for all staff and service providers. In addition, the facility will provide 20,000 square feet of community and commercial space on the ground floor.

Tutor Perini is the managing partner in the joint venture with O&G serving as a 25% partner. The joint venture’s design partner is HOK.

The contract value was added to the Company’s backlog in the fourth quarter of 2024.

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).

Contacts

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com

Tutor Perini Corporation

NYSE:TPC

Release Versions
Hashtags

Contacts

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com

More News From Tutor Perini Corporation

Tutor Perini Reports Fourth Quarter and Full Year 2024 Results

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the fourth quarter and year ended December 31, 2024 (see attached tables). Record Operating Cash Flow Enabled Substantial Debt Reduction Tutor Perini delivered a third consecutive year of record operating cash flow, generating $503.5 million of net cash provided by operating activities in 2024, which was up 63%, shattering t...

Tutor Perini-Nan JV Awarded Additional $232 Million for the Apra Harbor Waterfront Repairs Project for a Total Awarded Value of $563 Million

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Tutor Perini-Nan Joint Venture has been awarded several options by the Naval Facilities Engineering Systems Command, Marianas, for additional scope of work on the previously announced Apra Harbor Waterfront Repairs Project in Guam. The additional scope options are valued at approximately $232 million, bringing the total contra...

Tutor Perini Further Strengthens Balance Sheet with Payoff of its Term Loan B

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company has paid off its remaining Term Loan B debt of approximately $47 million. With this latest prepayment, Tutor Perini has successfully accelerated the deleveraging of its balance sheet, reducing total debt by $477 million, or 52%, since December 31, 2023. “Our strong operating cash flow has enabled us to exceed our debt...
Back to Newsroom