Benzinga | Sep 29, 2021 04:19PM EDT

Tutor Perini Bags $122M Military Range Project In Guam

* Tutor Perini Corp (NYSE:TPC) subsidiary Black Construction Corp. has secured a fixed-price contract valued at ~$122 million from the Naval Facilities Engineering Systems Command, Pacific Division.

* The contract is for constructing a machine gun range at the Northwest Field, Andersen Air Force Base, Guam.

* The work to be performed includes constructing a multi-lane, multi-purpose machine gun range, a range control tower, ammunition distribution point, and covered bleachers.

* The company is to begin the preliminary work immediately and complete the project by October 2024.

* Tutor Perini will include the contract value in its third-quarter 2021 backlog.

* Price Action: TPC shares closed higher by 1.15% at $13.20 on Wednesday.