Parsons Awarded $50 Million Contract to Support Houston Airports

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured a $50 million contract from Houston Airports to enhance infrastructure projects over a five-year term with a potential three-year extension. This contract supports operations at George Bush Intercontinental Airport, William P. Hobby Airport, and Ellington Airport, expanding Parsons' ongoing collaboration on the IAH Terminal Redevelopment Program. The project includes comprehensive phases from initiation to contract closeout, aimed at improving the travel experience and operational efficiency at these airports.

Positive

• Awarded a significant $50 million contract to support Houston Airports.
• Extends partnership beyond the IAH Terminal Redevelopment Program.
• Involves full project management from initiation to activation.

Negative

• None.

CENTREVILLE, Va., Nov. 17, 2020 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company has been selected by Houston Airports to support infrastructure projects and other initiatives related to the effective management of capital renewal and operations and maintenance services. The $50 million contract, which includes a five-year base plus one three-year option, will support Houston Airports' projects at George Bush Intercontinental Airport (IAH), William P. Hobby Airport (HOU) and Ellington Airport (EFD).

"Airports are connectors powering the mobility and economic growth of communities around the world, and Houston Airports connect millions of passengers to their destinations every year," said Tom Topolski, executive vice president, Connected Communities market for Parsons. "Houston Airports shares our team's passion for enhancing the travel experience, and we look forward to helping manage planned capital improvements that will provide safe, efficient and convenient travel options to their customers."

Parsons has supported Houston Airports' IAH Terminal Redevelopment Program (ITRP) for five years. The new contract will expand the company's work beyond ITRP.

"We look forward to continuing our partnership with Parsons as we undertake future infrastructure programs, projects and other initiatives," Chief Development Officer of Houston Airports Bob Barker said. "Houston Airports is committed to serving the traveling public with world-class facilities and features, and these highly qualified professionals will serve as an extension of our staff."

If all option periods are exercised, Parsons' staff will support all phases of the assigned projects, including program initiation, program definition, design review and approval, procurement, construction management, commissioning and activation, and contract closeout.

To learn more about Parsons' critical infrastructure expertise, visit Parsons.com/markets/critical-infrastructure/.  

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:                                                           
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@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 was awarded for Houston Airports?

Parsons Corporation was awarded a $50 million contract.

How long is the duration of Parsons' contract with Houston Airports?

The contract is for five years, with a potential three-year extension.

Which airports are included in Parsons' new contract with Houston Airports?

The contract covers George Bush Intercontinental Airport, William P. Hobby Airport, and Ellington Airport.

What is the focus of the projects under the Parsons contract with Houston Airports?

The projects focus on infrastructure improvements and operational management.