Primoris secures additional $22M on petrochemical contract

ConDig (05-Jul-17).  Construction and infrastructure company Primoris Services Corp has secured an additional $22 million for an existing civil contract with a petrochemical company in Louisiana.

The Dallas, Texas-based company said that the contract award was first unveiled in November 2014, with a value of $290 million. But work authorizations have been increased by $206.6 million and the work being carried out by Primoris is now expected to be finished in the third quarter of this year.

The project was awarded by a unnamed petrochemical company for its multi-billion dollar facility in Louisiana.

Work is being done under a cost-reimbursable contract and the additional authorizations added about $14 million to Primoris’ power division backlog and about $8 million to its civil division backlog during the second quarter.

Last month, a division of Primoris bagged a $53 million contract to build natural gas pipeline in Pennsylvania.

It comes as the company acquired Florida Gas Contractors (FGC) for about $33 million cash in May.