Gulf Island Fabrication Has Been Awarded Fixed-Price Fabrication Contract Valued At Over $35M To Support Rebuilding Of The Francis Scott Key Bridge In Baltimore, Maryland.

Author: Benzinga Newsdesk | October 01, 2025 04:09pm

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) ("Gulf Island" or the "Company"), a leading steel fabricator and service provider to the industrial, energy and government sectors, today announced it has been awarded a fabrication contract to support the rebuilding of the Francis Scott Key Bridge in Baltimore, Maryland.

Gulf Island will be fabricating structural components for the reconstruction of the iconic bridge, a vital transportation link on the East Coast. The Company's expertise in heavy steel fabrication and project execution will play a critical role in delivering high-quality components on an expedited timeline. The contract is fixed-price with an estimated value in excess of $35 million (which includes the value of the limited notice to proceed previously announced) and will be included in the Company's new awards and backlog during the third quarter 2025. Procurement of materials has already commenced and fabrication activities are anticipated to begin in the fourth quarter 2025.

"This award represents more than a project win—it reflects Gulf Island's ability to adapt, evolve and bring our proven capabilities to new markets of national importance," said Richard Heo, Gulf Island's President and Chief Executive Officer. "The project aligns with our strategy to diversify beyond our traditional energy end market and leverages our core competencies in project execution around steel fabrication, modular construction and time critical projects. Our team is honored to support the rebuilding of the Francis Scott Key Bridge, which is not only essential to the region's transportation network, but symbolic of the country's history and resilience."

Posted In: GIFI