Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture between the Company and its subsidiary, Frontier-Kemper Constructors, has been awarded a design-build contract valued at approximately $1.18 billion by the Gateway Development Commission for the Manhattan Tunnel Project, a component of the Hudson Tunnel Project (“HTP”). The HTP is a resiliency and reliability project to build two new passenger rail tracks between New York and New Jersey and rehabilitate the century-old North River Tunnel, which was badly damaged during Superstorm Sandy. The Manhattan Tunnel Project scope of work entails the design and construction of twin 30-foot diameter tunnels approximately 700 feet in length beneath the eastern shore of the Hudson River to existing cut-and-cover tunnels beneath Hudson Yards, along with an access shaft at 12th Avenue and the Manhattan West Side Highway, which will later become a ventilation facility for the tunnels.

Work is expected to begin in the spring of 2025 with substantial completion anticipated in 2029. The contract value is expected to be added to the Company’s backlog in the first quarter of 2025.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget, while adhering to strict quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).

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