Parsons Awarded Contract to Deliver Technology-Enabled Capital Project Management Services for Phase 2 Los Vaqueros Reservoir Expansion

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has announced its role in providing Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion, partnering with Contra Costa Water District (CCWD) and GEI Consultants Inc. The project aims to enhance water supply reliability and quality for over 500,000 customers in the San Francisco Bay Area by increasing the reservoir's capacity from 160,000 to 275,000 acre-feet. Parsons will employ its digital solutions, Parsons X, to improve project efficiency. The Phase 2 project aligns with state and federal objectives and will receive funding from various governmental sources and local stakeholders.

Positive

• Secured a significant contract for Phase 2 of the Los Vaqueros Reservoir Expansion, enhancing service offerings.
• Partnership with GEI Consultants Inc. strengthens project management capabilities.
• Parsons X digital solutions will improve efficiency and project tracking.

Negative

• None.

CENTREVILLE, Va., March 06, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company will provide Contra Costa Water District (CCWD) Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion (LVE) located in the San Francisco Bay Area. As a major subconsultant to GEI Consultants Inc, the company will deliver an updated project management plan, cost estimating, budget and funding tracking, risk management, project reporting, technical reviews, O&M assistance, and contract management assistance.

In addition, the team will leverage the transformative power of Parsons X to recommend and procure Program Management and Construction Management Information Systems (PMIS/CMIS) which will digitize business processes, integrate with CCWD’s financial accounting system, and provide timely and actionable dashboards and reports. These new digital capabilities will improve transparency, efficiency, and collaboration for this critical project.

“We are excited to partner with GEI and CCWD to assist with the improvement of regional water supply resiliency, drought mitigation, and economic vitality for the San Francisco Bay Area,” said Mark Fialkowski, president, mobility solutions business unit for Parsons. “As innovators, we combine unique technology solutions with our project expertise to guide our clients through their digital journeys, breaking down data silos to synchronize people and processes, and ultimately solve some of their toughest water treatment challenges.”

CCWD delivers drinking water to over 500,000 customers in the East Bay. The Phase 2 LVE Project will increase the reservoir from 160,000 to 275,000 acre-feet with a goal of improving water supply reliability and water quality for San Francisco Bay Area water users, while protecting Delta fisheries and providing refuge water supply benefits. The Phase 2 LVE Project is aligned with state and federal objectives and will receive state and federal funding, as well as funding from each of the nine members of the newly formed Joint Powers Authority in October 2022.

Parsons has decades of experience creating and maintaining safe, efficient, and sustainable water facilities and processes. Our expertise in program and construction management (PM/CM) and engineering have helped us transform the industry through some of the most complex water and wastewater projects in the world.

Parsons X unifies the company’s digital solutions and reinforces data-driven results across all of Parsons’ services and markets. This enterprise approach drives efficiency and agility, helping Parsons deliver innovative solutions to the world’s most pressing challenges and opportunities.

To learn more about Parsons’ water and wastewater expertise, visit https://www.parsons.com/markets/water-wastewater/. To learn more about Parsons X, visit https://www.parsons.com/x/.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Media Contact:
Lexus K. White
+1 470.510.6690
Lexus.White@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.com

FAQ

What is Parsons Corporation's new project related to PSN?

Parsons Corporation announced it will provide Capital Project Management Services for the Phase 2 expansion of the Los Vaqueros Reservoir.

How will the Los Vaqueros Reservoir Expansion impact the San Francisco Bay Area?

The expansion will increase the reservoir's capacity, improving water supply reliability and quality for over 500,000 customers.

Who are Parsons Corporation's partners in the Los Vaqueros Reservoir Project?

Parsons is partnering with Contra Costa Water District and GEI Consultants Inc. for the project.

What technology will Parsons use in the Los Vaqueros Project?

Parsons will utilize its digital solutions, known as Parsons X, to enhance project management efficiency.

What funding will the Los Vaqueros Reservoir Expansion receive?

The project will receive funding from state and federal sources, as well as contributions from local stakeholders.