Orion Group Holdings Secures Major Contracts Worth $111 Million

Orion Group Holdings Secures Major Contracts

Orion Group Holdings, Inc. (NYSE: ORN), a distinguished specialty construction and engineering company, recently made headlines by announcing the award of three major contracts, collectively valued at approximately $111 million. This development not only marks a significant achievement for the company but also emphasizes its continued commitment to excellence in project execution.

New Contracts Overview

The newly awarded contracts are split among Orion's Marine and Concrete segments. Orion Marine clinched a prominent $88 million contract with a major port authority. The project revolves around enhancing the Hugh K. Leatherman Terminal Wharf, which is set to undergo substantial expansions. The construction entails a northward extension that will span 1,600 linear feet of concrete pile-supported wharf, facilitating better access for larger vessels, a vision driven by increasing global trade trends.

Details of the Marine Projects

Commencing in early 2025 and expected to conclude within a 20-month timeframe, this project will involve numerous complex tasks such as the installation of precast, prestressed concrete piles and other critical structural components. The wharf's expansion plays a pivotal role in accommodating the growing shipping demands and ensuring safe operations along the port.

Tampa's Riverwalk Project

Moreover, Orion Marine secured a $12.9 million subcontract under Haskell, a global player in architecture, engineering, and construction, for a design-build venture aimed at the West Bank Riverwalk pedestrian bridge project in Tampa.

Upcoming Construction Timeline

This is slated to kick off in the third quarter of 2025, with an estimated duration of about 18 months for completion. This initiative reflects the firm’s expertise in urban infrastructure development, further solidifying its reputation as a trusted partner in the industry.

Concrete Segment Achievements

In another significant win for Orion, the Concrete segment was awarded a $10.3 million contract by HITT Contracting, LLC, intended for constructing a new data center for a confidential hyperscaler client located in Texas. This project is scheduled to begin in January 2025 and is expected to wrap up within nine months, showcasing Orion's versatility in handling diverse construction projects.

Commitment to Safety and Quality

CEO Travis Boone expressed pride in these recent selections, highlighting that they reflect the company's growing reputation for delivering projects on time and within budget while adhering to the highest safety standards. Orion's proven track record gives clients confidence in their ability to manage complex projects effectively.

Company’s Commitment to Excellence

Orion Group Holdings continues to be a standout name in the specialty construction industry, balancing innovative approaches with a dedication to quality and safety. As the company takes on these new projects, it further solidifies its role as a key player in the construction and engineering sectors.

About Orion Group Holdings

Headquartered in Houston, Texas, Orion Group Holdings operates throughout the continental United States, Canada, and the Caribbean Basin. The company’s marine segment specializes in construction and dredging services, while the concrete segment is focused on turnkey solutions that include comprehensive site preparation and construction services.

Frequently Asked Questions

What are the new contracts announced by Orion Group Holdings?

Orion Group Holdings has announced three significant contracts totaling approximately $111 million, involving projects in its Marine and Concrete segments.

When is the construction of the Hugh K. Leatherman Terminal Wharf expected to start?

The construction of this terminal wharf is scheduled to commence in early 2025.

Who has Orion Group partnered with for the pedestrian bridge project?

Orion has partnered with Haskell for the design-build West Bank Riverwalk pedestrian bridge project.

What is the expected duration for the Riverwalk project?

The Riverwalk project is expected to take around 18 months to complete, starting in the third quarter of 2025.

Where is Orion Group Holdings headquartered?

Orion Group Holdings is headquartered in Houston, Texas, and operates across various regions including the United States, Canada, and the Caribbean Basin.

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