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Tutor Perini JV selected for $985M contract

Tutor Perini announced that its joint venture’s bid, valued at approximately $985M, was recently identified by the California High-Speed Rail Authority as the “apparent best value” for the design and construction of the initial Madera to Fresno segment of the California high-speed rail system. The Authority’s Board of Directors is expected to approve the design-build contract for this project in the coming weeks. Once the contract is awarded, Tutor Perini’s portion of the contract value will be added to the company’s backlog. Initial work on this project is planned to begin by July. The project is anticipated to create more than 1,000 construction jobs per year over its four-year duration.