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18-11-2014

Primoris Services Corporation receives petrochemical contract

Primoris Services Corporation today announced an industrial and heavy civil award with an initial value of $290M. The Company believes that the completion of the full scope of the project would result in a significant increase in the work authorization amount. The contract was jointly secured by Primoris Energy Services' James Industrial Contractors, part of the Energy segment, and the Infrastructure & Maintenance division of Primoris' James Construction Group, part of the East Construction Services segment. Work on the project will being immediately and extend into 2016. 
 
* The project was awarded by a major petrochemical company for work at  their multi-billion dollar expansion site in Louisiana. 
* The contract award allows Primoris to begin work at the sizeable jobsite. The project is expected to include over 2 million craft man-hours, 1.5 million cubic yards of excavation, 3 million cubic yards of backfill, 120,000 linear feet of underground piping, and 100,000 cubic yards of concrete foundation and paving. 
* The Company expects that approximately 40% of the total award value will flow to James I&M, whose portion of the contract includes all clearing and site work, including mass excavation and backfill. 
* The Company expects that approximately 60% of the total award value will flow to JIC. JIC will be responsible for deep foundations, underground piping and electrical duct banks, and foundations. 

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