Tutor Perini to Design High-Speed Rail Project in California
California's high-speed rail project appears to be off and running.
On Wednesday, civil engineering firm Tutor Perini Corp.said the California High-Speed Rail Authority has identified its $985 million bid to design the initial Madera-to-Fresno segment of California's high-speed railway as the "apparent best value" of all bids received.
The contract has not been awarded yet, but Tutor says it expects an official award to be granted in the coming weeks on the nation's first high-speed rail project.
Tutor, based in Sylmar, Calif., is leading a joint venture among itself, Texas-based Zachry Construction Corp., and Pasadena, Calif.'s Parsons Corp., bidding on this project. Work is expected to begin by July and continue over four years, creating more than 1,000 construction jobs, according to Tutor, and laying the groundwork for a modernized rail system in California.
The article Tutor Perini to Design High-Speed Rail Project in California originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.