Corrections Corp. of America to build $83.5 million Nevada prisonNashville Business Journal

Corrections Corporation of America has secured a contract to build and operate a new 1,072-bed prison in Pahrump, Nevada.

CCA's (NYSE: CXW) new 1,072-bed Nevada Southern Detention Center is expected to house about 1,000 federal inmates and detainees from the United States Marshals Service as well as potential populations from U.S. Immigration and Customs Enforcement and the Federal Bureau of Prisons.

The new prison is located about 65 miles outside of Las Vegas.

The contract provides for a guarantee of up to 750 inmates or detainees and includes an initial term of five years with three five-year renewal options.

Construction is expected to take up to 18 months.

CCA is the nation's largest owner and operator of private correctional and detention facilities and one of the largest prison operators in the United States. CCA operates 65 facilities, including 41 company-owned facilities, with a total capacity of about 78,500 beds in 19 states and the District of Columbia.

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