Benzinga | Dec 20, 2021 08:32AM EST

Orion Group Holdings Announces Contract Awards Of ~$33M

Orion Group Holdings, Inc. (NYSE:ORN) (the "Company") a leading specialty construction company, today announced two contract awards for its Marine segment totaling approximately $33 million.

The Company was recently awarded a $28.3 million design-bid-build contract by the Naval Facilities Engineering Command ("NAVFAC") Southeast for the repair and update of an existing waterside facility in the Bahamas. Work on the project site is scheduled to commence in the second quarter of 2022 and to be completed in early 2024.

The Company has also been awarded a contract valued at $4.4 million to rehabilitate an existing barge dock for a private sector energy client along the gulf coast of Texas. Work is expected to begin during the first quarter of 2022 and be completed during the third quarter of 2022.

"The award from NAVFAC continues our long history of supporting the U.S. Navy's infrastructure needs," said Mark Stauffer, Orion's President and Chief Executive Officer. "Additionally, we are pleased to continue to be the market leader supporting the needs of our energy sector clients along the Texas gulf coast."