Tutor Perini announces $1.41B Newark Airport Terminal one design-build project
Tutor Perini Corporation announced that the Port Authority of New York and New Jersey has approved the award of a fixed-price contract valued at approximately $1.41B to the Tutor Perini/Parsons joint venture for the one-million-square-foot Newark Airport Terminal One Design-Build Project. The project is part of a major redevelopment and modernization program that will position Newark Liberty International Airport to meet the needs of the 21st century. The project will be the largest transportation infrastructure design-build contract in New Jersey state history. Tutor Perini is the managing partner for this joint venture. Work is expected to begin in April 2018 and substantial completion is anticipated in 2022. The contract value is expected to be included in the company's first-quarter 2018 backlog.