TETRA Technologies, Inc. (TTI), through its subsidiary TETRA Bromine Project LLC, has entered into a Master Services Agreement with Diversified Construction & Design, L.L.C. The agreement provides the framework for construction and commissioning services for Phases 2 and 3 of the company's Evergreen Project, a bromine production facility in Arkansas. This represents a significant step in advancing the project's development.
Key Details
- Agreement: Master Services Agreement effective June 12, 2026, with Diversified Construction & Design, L.L.C.
- Project: Covers construction for Phases 2 and 3 of the Evergreen bromine production facility near Stamps, Arkansas, representing the majority of the remaining construction scope.
- Financials: The company expects to incur approximately $95 million for construction services under this agreement, out of a total estimated remaining project capital expenditure of $220 million (as of March 31, 2026).
- Terms: Includes an 18-month warranty period for the work and potential liquidated damages for delays, capped at $2.0 million if the agreement is terminated by TTI's subsidiary.