The Missouri Highways and Transportation Commission selected KTU Constructors to replace 554 bridges across the state over the next four years under a $487-million design-build contract. Combined with another 248 bridge projects the Missouri Dept. of Transportation has awarded, Missourians are scheduled to be be driving across 802 new bridges by Oct. 31, 2014. The full program is expected to cost $700 million. MoDOT will sell bonds to finance the program, repaying them with annual payments of $50 million it receives from the federal bridge funds each year. Over the life of the project, that method is expected to save
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.