Primoris extends two MSAs with total anticipated value of approximately $31M
Primoris announced the extension of two existing master service agreements, or MSAs, with a utility customer. The contracts were secured by Q3 Contracting. The first award is a one and one half-year agreement for the restoration of hard and soft surfaces in the Midwest region of the U.S. with an anticipated value of $12M. The second award is a three-year agreement for storm water and erosion control services in the West region of the U.S. with an anticipated value of $19M. It is estimated that these MSAs will generate approximately $14M per year over the course of the contracts. While the agreements do not obligate the customer to award Primoris a specific dollar amount, discussions and history with the customer form the basis for anticipated value.