LOS ANGELES, February 25, 2025--(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 contract value of the project to approximately $563 million.

This is a design-build construction project to repair the Apra Harbor’s Glass Breakwater and restore and modernize waterfront areas that have been physically eroded and damaged from storms, including the recent Typhoon Mawar in May 2023. The project scope of work now includes repairs to various sections of the Glass Breakwater to minimize future breaching potential of the breakwater, as well as shoreline repairs to the inner harbor. Tutor Perini is the managing partner in the joint venture, with Nan, Inc. serving as a 30% partner. The Company’s Guam-based subsidiary, Black Construction Corporation, is managing the execution of the work on this project.

Design work is already underway with in-water construction anticipated to commence in the fourth quarter of 2025 and substantial completion expected in July 2029. The $232 million incremental value related to the approved options will be added to the Company’s backlog in the first quarter of 2025.

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).

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Contacts

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