Parsons Awarded $2 Billion Ceiling Air Force Base Modernization Contract

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured an indefinite-delivery, indefinite-quantity (IDIQ) contract from the U.S. Air Force Civil Engineer Center, valued at $2 billion over a potential 10-year period. The contract includes design, construction management, and modernization of Air Force Bases globally, with a five-year base contract and an optional five-year extension. This contract marks a continuation of Parsons' 60-year partnership with the U.S. Air Force and follows their previous AE13DCS contract.

Positive

• Secured a $2 billion contract from the U.S. Air Force for modernization services.
• Continues a longstanding relationship with the U.S. Air Force, enhancing credibility.
• Potential for additional revenue through an optional five-year extension.

Negative

• None.

CENTREVILLE, Va., March 1, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) was awarded an indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract by the U.S. Air Force Civil Engineer Center (AFCEC) for architecture engineering capabilities, including design, construction management, and the restoration and modernization of Air Force Bases worldwide. The potential 10-year contract has a five-year base period and an option for an additional five years, worth a shared value of $2 billion across awardees.

"As the Department of Defense prepares for the base of the future, we're ready to deliver exceptional critical infrastructure expertise to modernize and sustain Air Force bases around the world," said Chris Alexander, executive vice president, and general manager of Parsons' engineered systems market. "We look forward to bringing best of market capabilities and advances in energy efficiency, climate resiliency, and application of renewable sources to maximize each installation's potential and drive overall mission success."

The Architect-Engineer (A-E) services for traditional title I, II, and other A-E services (A-E NEXT) contract is a follow-on to the AE13DCS contract that Parsons held with AFCEC for six years and continues the company's more than 60 years of support to the U.S. Air Force and a 30-year relationship with AFCEC.

To learn more about Parsons' federal critical infrastructure capabilities, please visit: https://www.parsons.com/capabilities/engineered-systems/

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 Contact:
Bryce McDevitt
+ 1 703.851.4425
bryce.mcdevitt@parsons.com 

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
dave.spille@parsons.com 

 

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SOURCE Parsons Corporation

FAQ

What is the value of the contract Parsons received from the U.S. Air Force?

The contract is valued at $2 billion.

How long is the contract Parsons secured with the U.S. Air Force?

The contract has a potential duration of 10 years, including a five-year base period and an optional five-year extension.

What services will Parsons provide under the Air Force contract?

Parsons will provide architecture engineering capabilities, including design, construction management, and modernization of Air Force bases.

How does this contract affect Parsons' relationship with the U.S. Air Force?

This contract continues Parsons' over 60-year history of support to the U.S. Air Force.

What type of contract did Parsons receive from the U.S. Air Force?

Parsons received an indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract.