Specialty construction company Orion Group Holdings, Inc. (NYSE:ORN) has won a contract exceeding $100 million in value from Grand Bahama Shipyard Limited (GBSL).

The award pertains to the comprehensive design and construction of the Grand Bahama Shipyard Dry Dock Replacement Project, situated in the Grand Bahama, Bahamas.

The scope of work includes marine works and infrastructure construction, dredging, creating new mooring facilities, and enhancing shore stability. In addition, Orion will modify and extend service piers to install two cutting-edge floating dry docks.

This project is anticipated to conclude in late 2025, with the collaboration of Bahamian subcontractors playing a pivotal role.

Travis Boone, President and CEO of Orion Group Holdings, said, "The scope of the Bahama project demonstrates the extensive capabilities and commitment to predictable excellence that our integrated Marine & Engineering teams can deliver to large-scale and complex projects."

Additionally, Orion recently received new awards totaling $121 million, comprised of $50.8 million in the Concrete segment and $68.5 million in our Marine segment.

Price Action: ORN shares are trading higher by 1.95% at $5.50 on the last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.