AECOM selected as Lead Designer for Brent Spence Bridge Corridor Project

Rhea-AI Summary

AECOM (NYSE: ACM) has been selected as Lead Designer for the Brent Spence Bridge Corridor Project, supported by a historic $1.6B federal investment. The project aims to renovate the bridge, construct a new companion bridge, and improve traffic flow and safety along Interstates 71 and 75. AECOM will provide comprehensive design and engineering leadership, including as Engineer of Record for the new bridge, to address safety, traffic flow, and increase capacity between Ohio and Kentucky.

Positive

• AECOM's selection as Lead Designer for the project signals a significant vote of confidence in the company's technical expertise and capabilities.
• The historic $1.6B federal investment from President Biden's Infrastructure Investment and Jobs Act provides substantial financial support for the project, indicating strong government backing for infrastructure improvements.
• The use of the 'progressive design-build' delivery method allows for a collaborative approach and early risk assessment and mitigation, potentially leading to more efficient and effective project execution.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today it has been selected as Lead Designer for the landmark Brent Spence Bridge Corridor Project, led by the Walsh-Kokosing joint venture. The project calls for renovation and rehabilitation of the Brent Spence Bridge, which serves as a major gateway for travelers along Interstates 71 and 75 between Ohio and Kentucky, as well as construction of a new companion bridge to reduce congestion. The project is expected to improve traffic flow and safety, and maintain key regional and national transportation corridors. The contract is partially supported through a historic $1.6B federal investment from President Biden’s Infrastructure Investment and Jobs Act.

“We are proud to play a vital role in building a better-connected road network along one of the country’s busiest routes for commerce and commuter travelers,” said Lara Poloni, AECOM’s president. “We look forward to collaborating across our enterprise to bring our technical expertise to bear on this project, which will bring long-awaited safety improvements and traffic relief to this community.”

As the Lead Designer, AECOM will provide comprehensive design and engineering leadership to deliver critical upgrades that address safety and traffic flow; increase capacity between the states, improve the complex interchange geometry; and upgrade the interstate multiple miles into Kentucky. AECOM will directly perform design and provide project supervision services to lead a team of subcontractors that includes Jacobs Solutions and other engineering firms. As part of the services, AECOM will serve as Engineer of Record for the new double-decked companion bridge over the Ohio River and southward through Kentucky to facilitate this connectivity. The contract also includes the rehabilitation of the existing Brent Spence Bridge to its original design intent of three lanes of travel in each direction with emergency shoulders on each side.

“When completed, the Brent Spence Bridge Corridor, which was originally intended to handle only half of its current volume, will see drastically reduced traffic congestion while supporting access and connectivity to communities on both sides of the interstate highway,” said Mark Southwell, chief executive of AECOM’s global transportation business. “Not only will this project improve a critical link in this important corridor, but also support economic growth through job creation, and fuel investment into local businesses. Our diverse capabilities and design expertise make us well positioned to deliver on one of the most transformative infrastructure projects in the country.”

This project will be delivered using a delivery method known as “progressive design-build.” Unlike construction projects that typically use a lowest-bidder approach, the progressive design-build contract is awarded based on qualifications, the best overall approach and value. This allows a regionally strong team consisting of many design and construction firms the opportunity to collaborate with the bi-state management team and local stakeholders and assess and mitigate risk early in the process.

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 $13.1 billion in fiscal year 2022. 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/20230804221976/en/

Media:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com



Investors:

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 Brent Spence Bridge Corridor Project?

AECOM has been selected as Lead Designer for the project, providing comprehensive design and engineering leadership to address safety, traffic flow, and increase capacity between Ohio and Kentucky.

What is the financial support for the project?

The project is partially supported through a historic $1.6B federal investment from President Biden's Infrastructure Investment and Jobs Act.

What delivery method will be used for the project?

The project will be delivered using a 'progressive design-build' method, allowing for a collaborative approach and early risk assessment and mitigation.

What are the expected benefits of the project?

The project aims to improve traffic flow and safety, reduce congestion, and support economic growth through job creation and investment into local businesses.