Primoris Services Corporation (PRIM - Free Report) announced that its Energy Services' power division, part of the Energy segment has won a new power plant contract worth over $60 million. Primoris’ shares gained 3.02% following the announcement.
The contract 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 will be an expansion of an existing facility and will provide additional on-demand peaking electricity generation.
Work is slated to begin in the fourth quarter of 2016 and expected to be completed in the first quarter of 2018.
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