Tutor Perini Subsidiary Bags Contract To Construct Hospital In Los Angeles County

Tutor Perini Corp TPC subsidiary, Rudolph and Sletten, has secured a contract to construct a replacement hospital for Cedars-Sinai Marina del Rey Hospital in Los Angeles County, California. The company did not reveal the financial terms of the agreement.
The new Cedars-Sinai Marina del Rey Hospital will be a nine-story, 230,000-square-foot, state-of-the-art facility that will feature many new services and programs.
Tutor Perini expects the construction to begin in October 2021 and complete in 2026. The company has included the contract value in its Q3 2021 backlog.
Price Action: TPC shares closed higher by 4.8% at $12.89 on Thursday.