By Dean Seal
Tutor Perini has secured a $1.87 billion contract from the Port Authority of New York and New Jersey Board of Commissioners to build an interim facility while a new bus terminal is being constructed in midtown Manhattan.
The board said Thursday that it voted to authorize the contract, which calls for the construction of the core and shell of a new staging and storage facility, with a guaranteed maximum price of $1.87 billion.
The rest of the components will be procured by Tutor Perini through competitive bid processes that will be overseen by Port Authority. Those components will be obtained closer to when they are needed to reduce cost risks.
A representative for Tutor Perini didn't immediately respond to a request for comment.
The civil infrastructure builder said in November that its joint venture with O&G Industries had been awarded a $1.18 billion contract to replace New Jersey's Newark Liberty International Airport AirTrain.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 26, 2025 17:14 ET (21:14 GMT)
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