Key Highlights:

• Tutor Perini and O&G Industries win $1.3 billion contract for Connecticut River Bridge Replacement.

• Project to build a two-track, electrified, resilient bascule bridge.

• Funded by IIJA with $826.6M federal grant, Amtrak, and Connecticut state.

• Work begins late summer/early fall 2024, completion anticipated by 2031.

• Tutor Perini to add its 30% share of the contract value to backlog in Q2 2024.

Source (Business Wire)

Notable Quotes:

Our Take:

The Connecticut River Bridge Replacement Project is a significant infrastructure initiative, reflecting a substantial investment in modernizing the Northeast Corridor’s transportation network. The collaboration between Tutor Perini and O&G Industries showcases their combined expertise in handling large-scale, complex construction projects. With funding primarily sourced from the Infrastructure Investment & Jobs Act, this project underscores the federal commitment to improving the nation's infrastructure. By enhancing vertical clearance and increasing speed capabilities, the new bridge will not only address current deficiencies but also future-proof the rail system against growing demands. Tutor Perini’s involvement as a 30% partner in the joint venture further strengthens its portfolio and reaffirms its position as a leader in the construction industry.