SOURCE: Primoris Services Corporation

Primoris Services Corporation

February 09, 2017 07:30 ET

Primoris Services Corporation Announces LNG Engineering and Construction Award Valued at Over $100 Million

DALLAS, TX--(Marketwired - February 09, 2017) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a new liquefied natural gas ("LNG") facility engineering award valued at over $100 million. The contract was secured by Primoris Services Corporation's OnQuest, Inc. subsidiary, which is part of the Energy segment.

  • The project is an Engineering, Procurement, and Construction ("EPC") award by a New England-based energy company to replace an existing liquefaction facility with a new LNG plant based on a nitrogen cycle liquefier.
  • The scope of work includes plant design, engineering, procurement, transportation (freight to site), and construction/installation of the facility. OnQuest will also provide operator training, commissioning, start-up, and performance testing for the facility.
  • OnQuest will provide the turnkey EPC for the project, utilizing Primoris (James) Industrial Constructors, a division of Primoris Energy Services, for all construction services for the project
  • Engineering on this project is scheduled to begin in the first quarter of 2017, and plant completion is expected in the third quarter of 2019.

ABOUT PRIMORIS
Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies in the United States. Serving diverse end-markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company's national footprint now extends nearly nationwide and into Canada. For additional information, please visit www.prim.com.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements, including with regard to the Company's future performance. Words such as "estimated," "believes," "expects," "projects," "may," and "future" or similar expressions are intended to identify forward-looking statements. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, including without limitation, those described in this press release and those detailed in the "Risk Factors" section and other portions of our Annual Report on Form 10-K for the period ended December 31, 2015, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

  • Company Contact
    Kate Tholking
    Director of Investor Relations
    (214) 740-5615
    ktholking@prim.com