AECOM joint venture appointed by Australia’s Sunwater as Engineering and Professional Services Partner

Rhea-AI Summary

AECOM (NYSE: ACM) has been appointed as the Engineering and Professional Services Partner for Sunwater, a Queensland, Australia bulk water service provider. AECOM, in a joint venture with Jacobs, will support Sunwater in achieving its strategic goals and operational objectives, aiming to expand Sunwater’s capacity and capability to meet current and future demand for engineering and professional services. Sunwater owns AUD$13.7B in assets and operates 31 Bulk Water and Irrigation Supply schemes and 14 pipelines, delivering around 40 percent of the water used commercially in Queensland.

Positive

• AECOM's partnership with Sunwater demonstrates a strong commitment to delivering infrastructure projects that are critical to Queensland's economy.
• The joint venture with Jacobs will provide additional skills and capabilities to Sunwater's workforce, ensuring the delivery of high-quality projects that deliver water for prosperity for future generations.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced that Sunwater has appointed an AECOM joint venture as Engineering and Professional Services Partner for the Queensland, Australia bulk water service provider. Sunwater’s dams and pipeline delivers around 40 percent of the water used commercially in Queensland — more than 1.3 million megaliters a year.

As part of the Prosperity joint venture with Jacobs, AECOM will support Sunwater in achieving its strategic goals and operational objectives through a long-term sole partner arrangement that will enable meaningful collaboration and expand Sunwater’s capacity and capability to meet current and future demand for engineering and professional services.

“Sunwater has a proud legacy of delivering bulk water infrastructure for Queensland’s agricultural, urban, and industrial customers for over 80 years, and we are honored to expand our partnership to help develop and deliver its pipeline of major infrastructure projects,” said Mark McManamny, chief executive of AECOM’s Australia and New Zealand region. “AECOM has a rich history of collaboration with Sunwater and, as the joint venture named as the sole Engineering and Professional Services Provider, our technical specialists will draw on our deep experience in delivering complex programs to unlock the benefits of a longer-term program management approach.”

“To successfully deliver a substantial and complex capital works program, Sunwater needs to work with the industry’s best,” said Sunwater CEO Glenn Stockton. “Our partnership with the Prosperity Joint Venture will provide the additional skills and capabilities our workforce needs to ensure we continue to build, operate and maintain water infrastructure assets critical to Queensland’s economy. It lays the foundation for capacity growth, bringing together recognized industry leaders to support Sunwater to safely deliver high quality projects that deliver water for prosperity for future generations.”

Sunwater, a statutory Queensland Government-owned corporation, owns AUD$13.7B in assets and operate 31 Bulk Water and Irrigation Supply schemes and 14 pipelines that extend from the lower Mary River, north of Gympie to Mareeba in far north Queensland, south-west of the State from Toowoomba to St George and north-west almost to Cloncurry. These schemes and pipelines comprise 19 dams, 64 weirs and barrages, 3 off-stream storages, 6 water treatment plants, 70 major pumping stations, 1,951km of pipes and 595km of irrigation channels.

About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of US$14.4 billion in fiscal year 2023. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the expected benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas construction businesses, including the risk that any contingent purchase price adjustments from those transactions could be unfavorable and result in lower aggregate cash proceeds and any future proceeds owed to us under those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231218626258/en/

Media:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com

Investor:

Will Gabrielski

Senior Vice President, Finance, Treasurer

1.213.593.8208

William.Gabrielski@aecom.com

Source: AECOM

FAQ

What is AECOM's role in the partnership with Sunwater?

AECOM, in a joint venture with Jacobs, has been appointed as the Engineering and Professional Services Partner for Sunwater, aiming to expand Sunwater’s capacity and capability to meet current and future demand for engineering and professional services.

What is Sunwater's significance in Queensland's water supply?

Sunwater delivers around 40 percent of the water used commercially in Queensland, owning AUD$13.7B in assets and operating 31 Bulk Water and Irrigation Supply schemes and 14 pipelines.

What are the benefits of the partnership between AECOM and Sunwater?

The partnership aims to support Sunwater in achieving its strategic goals and operational objectives, expanding its capacity and capability to meet current and future demand for engineering and professional services.

How does the joint venture with Jacobs benefit Sunwater?

The joint venture will provide additional skills and capabilities to Sunwater's workforce, ensuring the delivery of high-quality projects that deliver water for prosperity for future generations.