ORN - Orion Group Holdings Announces Three Contract Awards Total Value Approximately $63 Million | Benzinga
HOUSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (the "Company", "Orion"), a leading specialty construction company, today announced three contract awards, two in its Concrete segment and one in its Marine segment. Each of the three projects is scheduled to start in the third quarter of 2024 and run for nine to twelve months.
Orion Concrete was awarded a contract valued at over $28 million by Costco Wholesale through Southeast Industrial Construction as General Contractor. The project is for the new construction of the Port Saint Lucie Costco Depot Phase 1, a pivotal distribution center located in southeast Florida, one of the nation's fastest growing regions. This facility will be one of Costco's largest distribution centers to date, Orion's 16th project with Costco, and one of the top ten largest Orion Concrete awarded projects in recent years.
Orion Concrete won the project through a competitive bid process. The scope of work includes placement of over 100,000 cubic yards of concrete to construct a 550,000 square foot tilt-wall dry/cold storage facility and nearly 3 million square feet of concrete paving. The new facility will serve the state and is located in South Florida – a region with a population of over 9 million people.
In addition, Orion Concrete was awarded another significant data center project in North Texas by a major hyperscaler. While details cannot be fully disclosed, the scope is in the range of $15 million. The Company has completed 19 data centers to date and continues to pursue mission critical infrastructure projects supporting the surging Artificial Intelligence market.
In the Marine segment of the business, Orion was awarded a $20 million marine construction project by Port Tampa Bay for a new 481 ft by 125 ft Berth 218 to handle bulk materials. The berth will include additional breasting dolphins connected to the shore by walkways and onshore high wind mooring points. The project's goal is to enhance port operations and serve ongoing economic growth. Port Tampa Bay is a longstanding ...