Los Angeles County Metropolitan Transportation Authority Selects Parsons For I-10 Express Lanes Project

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured a $23.5 million contract with the Los Angeles County Metropolitan Transportation Authority (LA Metro) to provide engineering services for 17 miles of express lanes on Interstate 10 (I-10). This project enhances the existing 64-mile express lane corridor between Los Angeles and San Bernardino counties. Parsons' involvement will include environmental reporting and operational concepts, demonstrating a commitment to improving regional transportation.

Positive

• Secured a $23.5 million contract with LA Metro, enhancing revenue.
• Strengthens existing relationship with LA Metro, indicating trust and reliability.
• Completion of the express lane segment contributes to a continuous 64-mile corridor, improving regional transportation.

Negative

• None.

CENTREVILLE, Va., June 21, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been selected by the Los Angeles County Metropolitan Transportation Authority (LA Metro) to provide full engineering services in preparing environmental reporting and concept of operations for 17 miles of express lanes on Interstate 10 (I-10). The $23.5 million contract builds on Parsons’ successful relationship with LA Metro while helping improve transportation in the Los Angeles region.

“Parsons has deep roots in California, and we are proud to leverage our local presence and experience to expand express lane access between Los Angeles and San Bernardino counties,” said Mark Fialkowski, executive vice president, mobility solutions market for Parsons.

The 17-mile express lane segment project will connect two existing segments, completing a continuous 64-mile express lane corridor along I-10 from Alameda Street to Ford Street. As part of the contract, Parsons will also assist LA Metro in determining the appropriate delivery method for the next phase of the project.

To learn more about Parsons’ road and highway expertise, visit Parsons.com/road-highway/.

About Parsons:

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Media

Jason Yaley
Chief Communications Officer
Jason.Yaley@Parsons.com
+1.571.255.9122

Investor Relations

Dave Spille
VP, Investor Relations
Dave.Spille@Parsons.com
+1 571.655.8264

 

FAQ

What is the value of the contract Parsons secured with LA Metro?

Parsons secured a $23.5 million contract with the Los Angeles County Metropolitan Transportation Authority.

What project is Parsons working on for LA Metro?

Parsons is providing engineering services for 17 miles of express lanes on Interstate 10 (I-10).

How does this project impact the express lane corridor in Los Angeles?

This project will complete a continuous 64-mile express lane corridor along Interstate 10 from Alameda Street to Ford Street.

When was the contract announced?

The contract was announced on June 21, 2021.