02:12 PM EDT, 05/10/2024 (MT Newswires) -- Orion Group ( ORN ) rose 11% in recent Friday trading, a day after the company said its marine construction business won a $80 million contract for the Port Everglades bulkhead replacement project in Florida.

The work involves replacing old steel sheet pile bulkheads with new ones covering about 2,240 linear feet, the company said. The project will also focus on repairing the aging North Bulkhead at the Entrance Channel to ensure safer maritime traffic flow, the company said.

The contract was awarded by the Port Everglades Seaport Engineering & Construction division via Moss Construction as managing general contractor for the project, Orion said.

The project is set to begin June 1 and conclude in late 2026.

Price: 8.48, Change: +0.81, Percent Change: +10.56