Parsons Serves as Lead Designer for New American Legion Bridge I-270 Traffic Relief Plan

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has been appointed as lead designer for the New American Legion Bridge I-270 Traffic Relief Plan, under a joint venture with Tutor Perini Corporation. This Maryland Department of Transportation project, valued in the billions, entails replacing and expanding the American Legion Bridge, adding two High Occupancy Toll (HOT) lanes, and enhancing 14 miles of highway. With decades of infrastructure experience, Parsons aims to improve regional mobility and safety. This collaboration symbolizes a significant step in transportation development in the National Capital Region.

Positive

• Contract represents new business for Parsons, enhancing growth potential.
• Project value estimated in the billions, indicating substantial revenue opportunity.
• Parsons' extensive experience in infrastructure positions them well for project success.

Negative

• None.

CENTREVILLE, Va., Oct. 17, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company will serve as lead designer and subconsultant to the construction joint venture led by Tutor Perini Corporation (NYSE: TPC) that has been selected by Accelerate Maryland Partners to design and construct Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan. This contract represents new work for Parsons.

The Maryland Department of Transportation (MDOT) project, with an estimated value in the billions of dollars, includes replacing and expanding the American Legion Bridge and adding two new High Occupancy Toll (HOT) managed lanes in each direction from south of the George Washington Memorial Parkway in Fairfax County, Virginia, to west of MD 187 (Old Georgetown Road) in Montgomery County, Maryland. On I-270, the project will convert the existing high occupancy vehicle (HOV) lane in each direction to a HOT managed lane and add one new HOT managed lane in each direction on I-270 from I-495 to north of I-370, and on the I-270 east and west spurs.

This effort will be one of the largest transportation projects in the United States and will help millions of travelers in the National Capital Region move more efficiently.

“Our team are trailblazers in accelerated bridge design and delivery, and we look forward to applying our depth of experience, as well as our innovative technology solutions, to improve mobility in Maryland and the greater Washington D.C. metro area,” said Mark Fialkowski, president, mobility solutions business unit for Parsons. “We share MDOT’s mission of delivering safe, sustainable, intelligent, exceptional, and inclusive transportation solutions, and are eager to help our partners deliver on our client’s vision to improve transportation throughout the region.”

Accelerate Maryland Partners, led by Transurban and Macquarie Capital, is the private entity in a public private partnership with MDOT to finance and build the project. Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan includes improvements for approximately 14 miles of heavily traveled highway.

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; ports and waterways, and the electric infrastructure that make electric vehicle transit possible. Our experience includes more than 10,000 miles of road, 4,500 crossings, and more than 50 advanced traffic management systems that help cities and states reduce emissions and energy costs, while improving the management, efficiency, safety, and the quality of life in the communities we serve.

To learn more about Parsons’ bridge expertise, visit www.Parsons.com/bridge/.

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, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Our solutions around the globe help make the world safer, healthier, and more connected 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
+ 1 703.775.6191
Dave.Spille@parsons.com

FAQ

What is the New American Legion Bridge I-270 Traffic Relief Plan?

It is a major transportation project aimed at replacing and expanding the American Legion Bridge and improving highway conditions in Maryland.

What role does Parsons Corporation play in the I-270 project?

Parsons is the lead designer and subconsultant for the construction joint venture selected for the project.

What is the estimated value of Parsons' new contract for the I-270 project?

The project is valued in the billions of dollars.

How will the I-270 Traffic Relief Plan benefit travelers?

It will improve mobility and traffic flow for millions of travelers in the National Capital Region.

What have been Parsons' contributions to infrastructure in the past?

Parsons has designed and delivered extensive infrastructure projects, including over 10,000 miles of roads and advanced traffic management systems.