(Source: Associated Press/AP Online)
SAN FRANCISCO - URS Corp. said Wednesday that a joint venture headed by the engineering and construction company received a contract to provide preconstruction services for the St. Bernard levee project in New Orleans to reduce flooding risk.
URS said if all options are exercised that could lead to additional work valued at up to a maximum of $281 million to the joint venture. The first phase of the contract is valued at about $539,000 and includes two options for work rebuilding the levee after preconstruction is completed. If the options are awarded, the construction project would include building a seven-and-a-half mile long flood protection wall, rising to a varying elevation of 28 to 30 feet.
The company's Washington Division, James Construction Group of Baton Rouge, La., and the Obayashi Corp. of Japan, received the contract from the U.S. Army Corps of Engineers.
Shares of San Francisco-based URS fell $1.67, or 3.5 percent, to $45.85 in afternoon trading.
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