Benzinga | Nov 30, 2021 04:48PM EST

Orion Group Holdings, Inc. Announces Three Contract Awards Of $16M

Orion Group Holdings, Inc. (NYSE:ORN) (the "Company") a leading specialty construction company, today announced three contract awards for its Marine segment totaling approximately $16 million.

In Texas, the Company has been awarded a contract valued at $7.1 million by the U.S. Army Corps of Engineers for dredging in the Freeport Harbor Channel. Work is expected to begin in the first quarter of 2022 and to be completed in the second quarter of 2022. The Company has also been awarded a contract valued at $4.1 million by a local port for a pipeline removal project related to future expansion. Work on this project is expected to commence late in the fourth quarter of 2021 and be completed during the second quarter of 2022.

In Florida, the Company has been awarded a contract by a private sector client for the installation of a bulkhead wall for shore protection. This project is valued at $5.2 million and will commence in the first quarter of 2022 with the work completed in the second quarter of 2022.

"We're pleased to announce these project awards, particularly the one in the private sector space," said Mark Stauffer, Orion's President and Chief Executive Officer. "We continue to be disciplined in our bidding approach as we add work to our 2022 backlog."