Primoris plugs into $43M worth of pipeline deals in Canada

ConDig (17-Sept-19). Texas-based construction and infrastructure company Primoris Services Corp has secured three contracts worth a total of $43 million for pipeline work in Northern Alberta, Canada.

The first deal is for pipeline corridor and facility earthwork, structural steel and electrical work. The company started work in the third quarter of this year and is due to be finished in the fourth quarter.

The second project features civil, structural, and piping work on a mine tailings infrastructure project. Work started in the third quarter of this year and completion is slated for the fourth quarter. 

The third award is for a three-year master service agreement to provide fabricated pipe spools and bends with chromium carbide overlay.

Primoris did not name the clients for the projects, but noted that the contracts were secured by Primoris Canada, part of the power, industrial and engineering division.
Earlier this month, Primoris secured a $140 million deal for electric utility work in Northern California.

Last month, Primoris reported net income was $17.8 million for the quarter ended June 30 compared with $11.7 million in the year-ago period. 

It comes as revenue rose to $789.9 million from $648.8 million in the same period last year.

The company said the increase was primarily fueled by incremental revenue from its Willbros acquisition and organic growth in its pipeline division.

In June. Primoris bagged civil engineering and mechanical and electrical contracts worth a total of $69 million.

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