The Texas Department of Transportation is planning new projects tallying almost $370 million that will repair and expand miles of highways and a number of bridges and ramps across the state. The work will be funded by Proposition 1, which diverts some oil and gas tax revenues to the State Highway Fund.
Messer Construction is building the $370 million North Residential District Transformation project at Ohio State University. About 850 construction workers are at the project each day, and tablets and computers give them access to updated construction plans. Messer uses the Latista Field mobile application to determine which tasks need to be completed, allowing the project to stay on schedule.
Hunt Construction Group has secured a $247 million contract to be the builder for the Fairmont hotel project in Austin, Texas. The $370 million hotel, which will be connected to the Austin Convention Center through an aerial promenade, will include meeting space and more than 1,000 rooms.
Dakota Growers Pasta, maker of dry pasta under brand names including Dreamfields and Pasta Sanita, is being acquired by Post Holdings for $370 million. "Post continues to expand its portfolio into segments of the overall food industry where it sees opportunities to grow and diversify its strong cash flow," Chairman and CEO William Stiritz said.
National Grid, the British utility company that serves much of upstate New York, is seeking permission to increase rates by $370 million a year in order to upgrade substations that date back to the 1920s and 1930s. The state's 80-year-old electrical infrastructure is long past its intended lifespan, officials say, and some crucial components are literally rotting away. "The obsolete equipment was not designed to handle today's electrical load," National Grid President Tom King told the state Senate last week. "The result: reduced reliability, and in some cases power failure."