Lake Forest-based construction and engineering company Primoris Services Corp. said Wednesday it won a contract to build a Northern California power plant that pushes its backlog of work to $1 billion for the first time.
The contract, won by the company’s Lake Forest-based ARB Inc. unit, is valued at $99.2 million. It calls for the company to provide construction and commissioning services for a gas power plant in Lodi.
The Roseville-based Northern California Power Agency, which represents several cities in the northern and central part of the state, awarded the contract.
Primoris is expected to start on the project soon and finish the work two years from now.
The award comes after recent contract wins in Texas and Louisiana for Primoris.
The wins helped push the company’s contracts won but not fulfilled to $1 billion, up from $824 million at the end of the first quarter.
Backlogs are looked to as a potential indicator of future revenue for Primoris and other construction companies.
Analysts expect Primoris to see revenue of $823.3 million this year.
Primoris went public in 2008 after buying about 80% of New York-based blank-check company Rhapsody Acquisition Corp. in a reverse merger.
The company’s ARB Inc. unit does work for utilities, oil and gas companies and others. Customers include Chevron Corp., Sempra Energy, Pacific Gas & Electric Co., BP PLC and ConocoPhillips.
