Daily Newsletter

19 August 2024

Daily Newsletter

19 August 2024

Tutor Perini wins Honolulu rail transit project’s CCGS contract 

The contract will be added to the company's order backlog for Q3 2024.

Upasana Mukherjee August 16 2024

The Honolulu Authority for Rapid Transportation (HART) has awarded a contract for the City Center Guideway and Stations (CCGS) segment of the Honolulu rail transit project in Hawaii, US. 

Tutor Perini is set to undertake the design and construction of this new phase, valued at approximately $1.66bn.  

The contract will be reflected in Tutor Perini's backlog in the third quarter (Q3) of 2024. 

Tutor Perini chair and CEO Ronald Tutor said: “Tutor Perini is proud and excited to be a part of this transformational project in Honolulu. 

“We look forward to partnering with HART to see this project through to its successful conclusion.” 

The CCGS contract encompasses the design and construction of six rail stations and approximately three miles of elevated guideway.  

This extension begins east of the Middle Street Transit Center Station and concludes at the Civic Center Station near Halekauwila Street and South Street.  

Construction is anticipated to start in the latter half of 2025 and reach completion by 2030. 

HART executive director and CEO Lori Kahikina said: “This is another huge milestone for our rail project.  

“This is the largest single contract of the entire project and sets the course for completing the project through downtown Honolulu. We are excited to begin work with Tutor Perini to make this happen.” 

This contract award is expected to unlock an additional $250m in federal funding to HART under the amended Full Funding Grant Agreement (FFGA), signed on 2 February 2024.  

The original FFGA from 2012 allocated a $1.55bn grant for the rail project, of which HART has already received approximately $931m. 

Earlier in May this year, Tutor Perini, alongside its subsidiary Black Construction, secured a contract for the construction of a Child Development Center at Andersen Air Force Base in Guam. 

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GlobalData's latest report explores the different sectors of the construction industry in Eastern Europe through a detailed investigation of the output values from 2019 to 2028. Per our estimates, the region's construction market is expected to grow at a CAGR of >3% over the forecast period (2024-2028), supported by investments in the renewable energy, transport, and manufacturing sectors. The residential construction category is set to remain the dominant group in terms of output value (real) over the forecast period.

Eastern Europe Construction Market Overview

GlobalData's latest report explores the different sectors of the construction industry in Eastern Europe through a detailed investigation of the output values from 2019 to 2028. Per our estimates, the region's construction market is expected to grow at a CAGR of >3% over the forecast period (2024-2028), supported by investments in the renewable energy, transport, and manufacturing sectors. The residential construction category is set to remain the dominant group in terms of output value (real) over the forecast period.

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