Dec 4 2009
URS Corporation (NYSE: URS) today announced that G•UB•MK Constructors, a joint venture between URS, WorleyParsons and Williams Plant Services, has been approved by the Tennessee Valley Authority (TVA) Board for award of a contract to perform maintenance and modifications services at TVA electric generation facilities. The contract has a five-year base term and a total maximum value of $950 million to the joint venture over the base period.
Under the terms of the contract, the joint venture will provide services at seven of TVA’s coal-fired power plants and all of its hydroelectric facilities, which are located primarily in Tennessee, Kentucky and Alabama. Additional facilities covered by the contract are in North Carolina, Virginia and Mississippi.
“G•UB•MK Constructors has been safely executing complex plant maintenance, modifications and improvement projects at TVA’s generating facilities since 1991,” said Tom Zarges, President of URS’ Washington Division. “We greatly value TVA as a client, and we appreciate their recognition of G•UB•MK’s long-term commitment by expanding our scope of work.”
Source: http://www.urscorp.com/