Orion Group Holdings, a leading specialty construction company, announced new Marine and Concrete awards totaling approximately $211.7 million. These projects are expected to start this year and have varying completion dates extending through 2026. These awards further reinforce Orion’s position as a specialized Marine and Concrete construction leader.
Orion Marine Awards
In Orion’s Marine segment, the Texas Department of Transportation approved a contract award of $113.7 million to replace the State Highway 6 bridge over Lake Waco in Central Texas. Construction is anticipated to begin in the first quarter of 2025 and last about 24 months.
And also in Texas, the Marine business secured three separate contracts for repair of Wharves 20 and 21 for the Port of Houston, improvements to Cruise Terminal 16 for the Port of Galveston, and a significant private dredging project. In total, these awards are valued at $29.8 million, and all three projects are expected to be completed in 2025.
In the Pacific Northwest, Orion’s Washington-based Marine segment received notification of an award for a General Contractor/Construction Management contract as a JV partner with Kraemer North America (KOJV) for the Deschutes Estuary Restoration project in the state capital of Olympia, Washington. The client currently estimates the project’s value at about $350 million and is actively pursuing full funding.
The restoration of the Deschutes Estuary will improve ecological conditions, help achieve state water quality standards, improve climate resilience and mitigation, and seek to restore recreation and fishing in the waterbody. The KOJV will work closely with the State of Washington through the preconstruction phase to bring innovative construction methods and risk and cost management strategies. And acquiring permits and finalizing design with construction agreements to follow, pending final funding; consequently, Orion’s share of the KOJV contract is still undetermined and not included in the $211.7 million total referenced above.
Orion Concrete Awards
Combined with other contracts in the last two months, the Concrete segment has won over $68.2 million in new projects that will commence in early 2025. Upon successfully completing a 43-story high rise project as a subcontractor for Hanover Development Company in Houston, Texas, Orion Concrete was awarded a contract for a multi-story project award as a subcontractor for Hanover in Houston, Texas. In collaboration with longstanding partners, Corvus and Harvey, the team also secured a junior high school, industrial warehouses, and food processing building in Houston. Working with partner Layton Construction, the Concrete team was also awarded a one million square foot data center project for a confidential client in Iowa, which brings Orion’s portfolio of data center projects to 33 total projects, including both active and completed projects. This data center project is not included in the $68.2 million as the final price is being negotiated.
KEY QUOTE:
“As I have said before, we have never seen such a confluence of opportunity in our markets and the team we built over the last two years is really delivering on the promise of that potential. I am especially pleased with the quality and diversity of these recent awards. We are attracting new partners and participating in exciting new projects ranging from bridge work over waterways in Texas to environmental restoration in the Pacific Northwest. We continue to show strength in data centers with 33 projects to date. Importantly, while growing our backlog, we are maintaining our discipline around bidding to ensure profitable long-term returns.”
- Travis Boone, Chief Executive Officer of Orion Group Holdings
