Perini begins final nine months of work on CityCenter

Perini Corp. is heading into the final nine months of work as general contractor on the CityCenter project, company officials said during a year-end earnings call last week.

Finishing phases of Perini's work will begin at the end of the summer and wrap with the Dec. 16 completion of its work on the Aria hotel-casino, Ronald Tutor, chairman and chief executive officer, said.

Rumors have swirled that Perini might leave the project early because of safety concerns and work defects on the job site.

MGM Mirage, 50 percent owner and managing partner of the $9.1 billion CityCenter, has repeatedly denied Perini's early exit.

MGM Mirage announced in January that the Harmon hotel would be cut by 21 floors after construction defects were found.

Clark County officials have filed complaints against Perini and Pacific Coast Steel, a subcontractor who did the faulty work at Harmon.

The county has also requested a re-inspection of work previously reviewed.

Six workers died on the site between February 2007 and May 2008, but none since a one-day work stoppage in June led by construction trade unions.

Perini's revenues from CityCenter and other MGM Mirage projects was $2.3 billion, or 40 percent of Perini's revenues, in 2008.

The company recorded revenues from MGM Mirage of $1.5 billion in 2007 and $452 million in 2006.

Perini continues to receive $200 million a month from CityCenter, Tutor told investors.

Perini, which is general contractor on the Cosmopolitan, said involvement on the neighboring project would be completed first quarter 2010.

Nearly $2.9 billion in work remains for Perini on both projects.