AECOM joint venture to provide engineering and project management services for the Glassboro-Camden Line Light Rail project

Rhea-AI Summary

AECOM (NYSE: ACM) has partnered with STV Incorporated through the South Jersey Transit Partners joint venture to provide engineering and project management for the Glassboro-Camden Line (GCL) Light Rail project in New Jersey. This 18-mile corridor aims to enhance regional mobility, reduce highway congestion, and connect communities. The project will implement advanced clean light rail technology and includes 14 station stops to improve access to various resources. AECOM's strategy focuses on delivering a cost-effective solution while minimizing environmental impacts.

Positive

• Partnership with STV Incorporated enhances expertise in engineering and project management.
• GCL project aimed at improving regional mobility and reducing congestion.
• Utilization of advanced clean light rail technology enhances sustainability.
• Expected to increase access to key resources in the area.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today its South Jersey Transit Partners (SJTP) joint venture with STV Incorporated has been selected by the Glassboro-Camden Line (GCL) Project Team to provide engineering, project management, and additional professional services for the GCL Light Rail project in New Jersey. The planned 18-mile corridor will restore passenger service along an existing rail line, with the goal of increasing mobility and improving links between established communities, jobs, and activity centers in the region. The GCL Project Team is managed by the Delaware River Port Authority (DRPA) with partners NJ Transit and the South Jersey Transportation Authority.

“We’re pleased to support the GCL Project Team on this significant project, which aims to maximize current transit assets while minimizing environmental impacts, affording riders an economical alternative to car travel in the area,” said Jennifer Aument, chief executive of AECOM’s global Transportation business. “We look forward to delivering a comprehensive, cost-effective, and risk-mitigating strategy for the GCL, honed from our work planning, designing, and implementing light rail systems in communities around the world.”

Once complete, the GCL is expected to increase access to cultural, recreational, educational, economic, and medical resources in the area, helping to reduce highway congestion and promote economic development. The joint venture’s scope is anticipated to encompass preliminary engineering, program management, civil and structural engineering, track design, risk management, quality assurance, schedule and cost management, permitting and environmental review, and operational and communication systems.

“The GCL is an important initiative to improve mobility by offering quick, reliable, and frequent rail service to the region,” said Bane Gaiser, chief executive of AECOM’s U.S. East and Latin America region. “Our SJTP joint venture is incredibly proud to continue our crucial work, leveraging our deep understanding of the GCL Project Team’s objectives, the project’s scope, stakeholder engagement, and public needs to successfully deliver a transportation option that will have a positive impact on the day-to-day lives of South Jerseyans.”

Employing the latest technology in clean light rail vehicle propulsion, the new transit system includes 14 station stops, providing central business district access and creating connections to DRPA’s PATCO High Speedline, NJ Transit’s River LINE Light Rail, and multiple bus routes.

About AECOM 
AECOM (NYSE: ACM), is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from 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 expertise and innovation, 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 $13.3 billion in fiscal year 2021. 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, coronavirus impacts, 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; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations 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 inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of 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/20221104005138/en/

Media Contact:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Investor Contact:

Will Gabrielski

Senior Vice President, Finance, Treasurer

1.213.593.8208

Source: AECOM

FAQ

What is the AECOM partnership for the GCL project?

AECOM has partnered with STV Incorporated to provide engineering and project management services for the Glassboro-Camden Line (GCL) Light Rail project in New Jersey.

What are the main goals of the GCL project by AECOM?

The GCL project aims to enhance regional mobility, reduce highway congestion, and connect communities and resources.

How long is the Glassboro-Camden Line (GCL) project?

The GCL project spans 18 miles, restoring passenger service along an existing rail line.

What technology will be used in the new GCL transit system?

The GCL transit system will employ advanced clean light rail vehicle propulsion technology.

How many station stops will the GCL transit system have?

The GCL transit system will include 14 station stops.