DALLAS, TX--(Marketwired - September 28, 2016) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a new power plant award valued in excess of $60 million. The contract was signed by Primoris Energy Services' power division, part of the Energy segment. Work is scheduled to commence in the fourth quarter of 2016, and planned completion is in the first quarter of 2018.
- The award is for the Engineering, Procurement, and Construction ("EPC") of a 340-megawatt simple cycle gas turbine power plant located in the Mid-Atlantic region of the United States.
- The new plant is an expansion of an existing facility and will provide additional on-demand peaking electricity generation.
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.