MYR Group Inc. awarded $250 million construction contract

ROLLING MEADOWS - MYR Group Inc. has signed a contract to manage construction of nearly 100 miles of electrical transmission lines in the state of New York. The contract is valued at more than $250 million.

The contract with LS Power Grid New York Corp. I, an affiliate of LS Power, is to provide procurement and construction services for the Marcy to New Scotland upgrade project. The 345-kilovolt (kV) transmission line will be constructed within existing utility corridors.

Under the contract, MYR Group will provide project management, construction management, material procurement and construction services including right-of-way clearing, environmental controls, foundation installation, structure assembly and erection and conductor stringing. Construction planning has begun, and project is expected to begin in early 2021 with a scheduled in-service date by the end of 2023.

"We are proud to play a significant role on this project and delighted to further expand our long-term working relationship with LS Power through this very important initiative," said Rick Swartz, president and chief executive officer of MYR Group. "The project will ultimately relieve bottlenecks on the New York state power grid to improve system reliability, increase efficiency and facilitate statewide access to renewable energy."

MYR Group is a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets throughout the United States and western Canada.