Black Construction Awarded $222 Million Tinian International Airport Project

April 24, 2023

LOS ANGELES--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its Guam-based subsidiary, Black Micro Corp. (a unit of Black Construction Corporation), has been awarded a firm-fixed-price contract valued at $221,690,757 by the Naval Facilities Engineering Systems Command Pacific for construction at Tinian International Airport, Tinian, Commonwealth of Northern Mariana Islands (CNMI). The work to be performed provides for the construction of a cargo pad with taxiway extension, fuel tanks with receipt pipeline and hydrant system, airfield development Phase I roads, and a maintenance support facility, under the Asia Pacific Stability Initiative. The contract contains three unexercised options, which if exercised, would increase the cumulative contract value to $225,667,367.

Work is expected to begin immediately with substantial completion anticipated expected by October 2026. The contract value will be included in the Company’s second-quarter 2023 backlog.