Tutor Perini Wins Bay Area Subway ContractThursday, June 20, 2013
Tutor Perini Corp. announced Thursday it had won a contract for work on the San Francisco Central Subway Project.
The Sylmar construction company’s contract with the San Francisco Municipal Transportation Agency is valued at $840 million. It includes work on three underground subway stations, a platform station and related track and systems.
The light rail contract comes weeks after the California High Speed Rail Authority board unanimously approved Tutor Perini’s $985-million bid to build the first stage of a rail line from Fresno to Madera.
The San Francisco project will be managed by Tutor Perini’s Civil Group including several of the company’s subsidiaries such as Frontier-Kemper Constructors and Desert Mechanical.
Shares of Tutor Perini closed down 73 cents, or 4 percent to $17.64 on the Nasdaq.