Parsons Awarded Contract to Support Caltrans Transportation Facilities
Parsons (NYSE: PSN) has been awarded a $23 million contract by the California Department of Transportation (Caltrans) to provide engineering and inspection services for structure construction projects in Districts 1, 2, and 3-North. The contract extends Parsons' long-standing relationship with Caltrans, dating back to 2007, focusing on bridge rehabilitation, new bridge construction, and retaining walls.
The project aims to improve California's transportation system through roadway rehabilitation, new facility construction, and infrastructure modifications. This initiative is particularly significant with upcoming high-profile events like the Olympics and World Cup. Parsons brings extensive experience, having completed over 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments.
Parsons (NYSE: PSN) ha ricevuto un contratto da 23 milioni di dollari dal Dipartimento dei Trasporti della California (Caltrans) per fornire servizi di ingegneria e ispezione per progetti di costruzione di strutture nei Distretti 1, 2 e 3-Nord. Il contratto estende la lunga collaborazione di Parsons con Caltrans, che risale al 2007, concentrandosi sulla riabilitazione dei ponti, la costruzione di nuovi ponti e muri di contenimento.
Il progetto mira a migliorare il sistema di trasporto della California attraverso la riabilitazione delle strade, la costruzione di nuove strutture e modifiche alle infrastrutture. Questa iniziativa è particolarmente significativa in vista di eventi di alto profilo come le Olimpiadi e la Coppa del Mondo. Parsons porta un'esperienza considerevole, avendo completato oltre 10.000 miglia di strade, 4.500 ponti e più di 50 implementazioni di sistemi avanzati di gestione del traffico.
Parsons (NYSE: PSN) ha sido premiada con un contrato de 23 millones de dólares por el Departamento de Transporte de California (Caltrans) para proporcionar servicios de ingeniería e inspección para proyectos de construcción de estructuras en los Distritos 1, 2 y 3-Norte. El contrato amplía la larga relación de Parsons con Caltrans, que se remonta a 2007, centrándose en la rehabilitación de puentes, la construcción de nuevos puentes y muros de contención.
El proyecto tiene como objetivo mejorar el sistema de transporte de California a través de la rehabilitación de carreteras, la construcción de nuevas instalaciones y modificaciones de infraestructura. Esta iniciativa es particularmente significativa con los próximos eventos de alto perfil como los Juegos Olímpicos y la Copa del Mundo. Parsons aporta una amplia experiencia, habiendo completado más de 10,000 millas de carreteras, 4,500 puentes y más de 50 implementaciones de sistemas avanzados de gestión del tráfico.
Parsons (NYSE: PSN)는 캘리포니아 교통부(Caltrans)로부터 2300만 달러 계약을 체결하여 1, 2, 3-북부 지구의 구조물 건설 프로젝트에 대한 엔지니어링 및 검사 서비스를 제공하게 됩니다. 이 계약은 2007년부터 시작된 Parsons와 Caltrans 간의 오랜 관계를 연장하며, 주로 교량 재활, 새로운 교량 건설 및 옹벽에 중점을 두고 있습니다.
이번 프로젝트는 도로 재활, 새로운 시설 건설 및 인프라 수정 작업을 통해 캘리포니아의 교통 시스템을 개선하는 것을 목표로 합니다. 이 이니셔티브는 올림픽과 월드컵 같은 주요 이벤트를 앞두고 특히 중요합니다. Parsons는 10,000마일 이상의 도로, 4,500개의 교량, 50개 이상의 고급 교통 관리 시스템 배치 경험을 보유하고 있습니다.
Parsons (NYSE: PSN) a été récompensée par un contrat de 23 millions de dollars du Département des Transports de Californie (Caltrans) pour fournir des services d'ingénierie et d'inspection pour des projets de construction de structures dans les Districts 1, 2 et 3-Nord. Ce contrat renforce la relation de longue date entre Parsons et Caltrans, qui remonte à 2007, en se concentrant sur la réhabilitation de ponts, la construction de nouveaux ponts et de murs de soutènement.
Le projet vise à améliorer le système de transport de Californie par la réhabilitation des routes, la construction de nouvelles installations et des modifications d'infrastructure. Cette initiative est particulièrement significative en prévision d'événements de haute envergure tels que les Jeux Olympiques et la Coupe du Monde. Parsons apporte une vaste expérience, ayant déjà réalisé plus de 10 000 miles de routes, 4 500 ponts et plus de 50 déploiements de systèmes avancés de gestion du trafic.
Parsons (NYSE: PSN) wurde vom kalifornischen Verkehrsministerium (Caltrans) mit einem 23 Millionen Dollar Vertrag beauftragt, um Ingenieur- und Inspektionsdienstleistungen für Bauprojekte im Distrikt 1, 2 und 3-Nord bereitzustellen. Der Vertrag erweitert die langjährige Zusammenarbeit von Parsons mit Caltrans, die bis ins Jahr 2007 zurückreicht und sich auf die Sanierung von Brücken, den Bau neuer Brücken und Stützmauern konzentriert.
Ziel des Projekts ist es, das Verkehrssystem Kaliforniens durch Straßenrenovierung, den Bau neuer Einrichtungen und Infrastrukturänderungen zu verbessern. Diese Initiative ist besonders bedeutsam im Hinblick auf bevorstehende hochkarätige Veranstaltungen wie die Olympischen Spiele und die Weltmeisterschaft. Parsons bringt umfassende Erfahrung mit, da über 10.000 Meilen Straßen, 4.500 Brücken und mehr als 50 moderne Verkehrsmanagementsysteme erfolgreich implementiert wurden.
- Secured new $23 million contract with Caltrans
- Continues long-term relationship with Caltrans since 2007
- Strategic timing with upcoming major events (Olympics and World Cup)
- None.
Insights
The
The contract's "as needed" nature provides revenue flexibility but makes exact timing of revenue recognition less predictable. Given Parsons' extensive portfolio including over 10,000 miles of roadways and 4,500 bridges, this contract reinforces their market position but isn't likely to materially impact the stock price.
The strategic value of this contract extends beyond its monetary worth. Securing work in three Caltrans districts positions Parsons advantageously for California's upcoming infrastructure demands related to the 2026 World Cup and 2028 Olympics. The scope covering engineering and inspection services for structural construction aligns with critical infrastructure needs that typically precede major sporting events.
The contract's focus on bridge rehabilitation, new construction and retaining walls addresses essential infrastructure components that will require upgrades to handle increased traffic loads during these events. Parsons' demonstrated expertise in advanced traffic management systems will be particularly valuable as California aims to optimize traffic flow and reduce emissions - key considerations for host cities of international sporting events.
CHANTILLY, Va. , Dec. 11, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that California Department of Transportation (Caltrans) has selected the company to perform professional and technical services. This
“Parsons has worked with the Caltrans for decades to improve California’s transportation system and provide greater mobility throughout the state,” said Mark Fialkowski, president of Infrastructure North America for Parsons. “With multiple high-profile events coming in the near future, including the Olympics and World Cup, Parsons is ready to support California in ensuring the infrastructure is in place to allow for an efficient, safe, and positive experience.”
Parsons has performed similar services for Caltrans since 2007, providing construction engineering and inspection services for bridge rehabilitation projects, new bridge construction projects and retaining walls. The project will improve the State transportation system, including roadway rehabilitation, construction of new facilities, and widening, realigning and relocating existing facilities.
Parsons has decades of experience designing, delivering, and protecting the infrastructure that connects our communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. Our experience includes more than 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments that help cities and states improve safety and travel efficiency while also reducing emissions and energy costs to enhance the quality of life in the communities we serve.
To learn more about Parsons’ transportation expertise, visit https://www.parsons.com/transportation/.
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, 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.
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.us
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