Posted on June 19, 2018
Orion Group Holdings, Inc. (NYSE: ORN) today announced a contract award of approximately $18 million.
The Company’s Marine segment was recently awarded a contract from the Port of Corpus Christi for the design, construction and dredging of a new cement unloading dock to be located on the Corpus Christi ship channel. The project is expected to begin in the third quarter of 2018 with a duration of approximately one year. The project start date is only an estimate.
“The P3 paradigm (Public Private Partnerships) is a proven model for success as we continue to invest our capital, alongside our customers, in large industrial projects for the region,” said Port of Corpus Christi CEO Sean Strawbridge. “By using a design-build procurement process, Port Corpus Christi selected Orion to deliver our customer, GCCM Holdings (Gulf Coast Construction Materials), a world class cement handling terminal on Port property with a throughput in excess of 300,000 tons per year. This P3 project is further example of the Port of Corpus Christi’s continued focus on cargo diversification while providing South Texas with much needed construction materials as we continue our epic industrial job-creating growth.”
Mark Stauffer, Orion’s Chief Executive Officer, commented, “We are excited to work with the Port of Corpus Christi on this expansive project and we look forward to continued delivery of high quality service to our customers.”
Source: StreetInsider.com
