Parsons-Vanir JV Awarded Sacramento International Airport’s CMI Contract
Parsons (NYSE: PSN) has announced a significant $30 million, five-year contract as part of a joint venture with Vanir. The Parsons/Vanir Joint Venture (PVJV) has been selected by the Sacramento County Department of Airports to provide construction management and inspection (CMI) services for the Sacramento International Airport (SMF) SMForward Program.
This contract is part of SMF's larger $1.3 billion airport improvement program, which aims to expand terminal gates and improve landside projects to support the airport's growth and modernization. The PVJV's scope includes managing the construction of a new parking structure, a Consolidated Rental Car Facility, additional gates at Terminals A and B, roadway improvements, and a passenger skywalk to Concourse B.
Parsons (NYSE: PSN) ha annunciato un importante contratto di $30 milioni della durata di cinque anni nell'ambito di una joint venture con Vanir. La Joint Venture Parsons/Vanir (PVJV) è stata selezionata dal Dipartimento degli Aeroporti della Contea di Sacramento per fornire servizi di gestione e ispezione della costruzione (CMI) per il Programma SMForward dell'Aeroporto Internazionale di Sacramento (SMF).
Questo contratto fa parte di un più ampio programma di miglioramento aeroportuale da $1,3 miliardi, che mira ad espandere i gate del terminal e migliorare i progetti a terra per supportare la crescita e la modernizzazione dell'aeroporto. L'ambito di lavoro della PVJV include la gestione della costruzione di una nuova struttura di parcheggio, di una Struttura Consolidata per il Noleggio Auto, di ulteriori gate nei Terminal A e B, miglioramenti stradali e un passaggio pedonale verso il Concourse B.
Parsons (NYSE: PSN) ha anunciado un importante contrato de $30 millones a cinco años como parte de una empresa conjunta con Vanir. La Joint Venture Parsons/Vanir (PVJV) ha sido seleccionada por el Departamento de Aeropuertos del Condado de Sacramento para proporcionar servicios de gestión e inspección de construcción (CMI) para el Programa SMForward del Aeropuerto Internacional de Sacramento (SMF).
Este contrato forma parte de un programa de mejora aeroportuaria de $1.3 mil millones, que tiene como objetivo expandir las puertas del terminal y mejorar los proyectos terrestres para apoyar el crecimiento y la modernización del aeropuerto. El alcance de la PVJV incluye gestionar la construcción de una nueva estructura de estacionamiento, una Instalación de Alquiler de Coches Consolidada, puertas adicionales en las Terminales A y B, mejoras en las carreteras y un puente peatonal hacia la Concourse B.
파슨스 (NYSE: PSN)는 바니르와의 합작 투자 일환으로 3000만 달러 규모의 5년 계약을 발표했습니다. 파슨스/바니르 합작 투자(PVJV)는 새크라멘토 카운티 공항청에 의해 건축 관리 및 검사 (CMI) 서비스를 제공하기 위해 선정되었습니다. 대상은 새크라멘토 국제공항(SMF)의 SMForward 프로그램입니다.
이 계약은 SMF의 13억 달러 규모의 공항 개선 프로그램의 일환으로, 터미널 게이트를 확장하고 공항의 성장과 현대화를 지원하기 위한 육상 프로젝트를 개선하는 것을 목표로 합니다. PVJV의 범위에는 새로운 주차 구조물 건설 관리, 통합 렌터카 시설, 터미널 A와 B의 추가 게이트, 도로 개선, 그리고 B구역으로 이어지는 승객 스카이워크가 포함됩니다.
Parsons (NYSE: PSN) a annoncé un contrat significatif de 30 millions de dollars sur cinq ans dans le cadre d'une coentreprise avec Vanir. La Coentreprise Parsons/Vanir (PVJV) a été sélectionnée par le Département des aéroports du comté de Sacramento pour fournir des services de gestion de construction et d'inspection (CMI) pour le programme SMForward de l'aéroport international de Sacramento (SMF).
Ce contrat fait partie d'un programme d'amélioration aéroportuaire de 1,3 milliard de dollars, qui vise à étendre les portes du terminal et à améliorer les projets terrestres pour soutenir la croissance et la modernisation de l'aéroport. Le champ d'application de la PVJV comprend la gestion de la construction d'une nouvelle structure de stationnement, d'une installation de location de voitures consolidée, de portes supplémentaires aux terminaux A et B, d'améliorations routières et d'un passage piéton vers le hall B.
Parsons (NYSE: PSN) hat einen bedeutenden 30-Millionen-Dollar-Vertrag über fünf Jahre im Rahmen eines Joint Ventures mit Vanir angekündigt. Das Parsons/Vanir Joint Venture (PVJV) wurde vom Flughafenamt des Sacramento County ausgewählt, um Bauleitungs- und Inspektionsdienste (CMI) für das SMForward-Programm des Internationalen Flughafens Sacramento (SMF) bereitzustellen.
Dieser Vertrag ist Teil eines größeren 1,3 Milliarden Dollar umfassenden Flughafenverbesserungsprogramms, das darauf abzielt, die Terminals zu erweitern und landseitige Projekte zu verbessern, um das Wachstum und die Modernisierung des Flughafens zu unterstützen. Der Aufgabenbereich der PVJV umfasst die Verwaltung des Baus eines neuen Parkhauses, einer konsolidierten Mietwagenanlage, zusätzlicher Gates an den Terminals A und B, straßenbauliche Verbesserungen und einen Fußgänger-Skywalk zum Concourse B.
- Secured a $30 million, five-year contract for CMI services
- Involvement in a large-scale $1.3 billion airport improvement program
- Expansion of Parsons' presence in the aviation sector
- Potential for long-term revenue stream from the five-year contract duration
- None.
Insights
The $30 million, five-year contract awarded to the Parsons-Vanir Joint Venture (PVJV) for the Sacramento International Airport's SMForward Program is a significant win for Parsons (NYSE: PSN). This contract, part of a larger $1.3 billion airport improvement program, represents a substantial revenue stream and potential for future growth in the aviation sector.
From an investor's perspective, this contract has several positive implications:
- Steady Revenue: The five-year duration provides a stable income source, enhancing Parsons' financial predictability.
- Sector Diversification: It strengthens Parsons' position in the aviation infrastructure market, potentially opening doors to similar projects nationwide.
- Scalability: The contract's scope, including terminal expansions and landside projects, showcases Parsons' ability to handle large-scale, complex infrastructure projects.
However, investors should note that while
The SMForward Program at Sacramento International Airport (SMF) is a prime example of the ongoing modernization efforts in U.S. aviation infrastructure. This $1.3 billion improvement program addresses critical aspects of airport operations and passenger experience:
- Capacity Expansion: New gates at both terminals will accommodate increasing passenger volumes.
- Accessibility Improvements: The new parking structure and Consolidated Rental Car Facility will enhance ground transportation options.
- Passenger Comfort: The addition of a passenger skywalk to Concourse B signifies a focus on traveler convenience.
These enhancements are important for SMF to remain competitive and support regional economic growth. The project's scale indicates a long-term commitment to the airport's future, potentially positioning Sacramento as a more significant air travel hub in Northern California.
For Parsons and Vanir, this project offers an opportunity to showcase their expertise in large-scale aviation infrastructure. Their involvement in such a comprehensive program could lead to similar high-profile contracts in the future, particularly as other mid-sized airports across the U.S. look to upgrade their facilities to meet growing demand and evolving passenger expectations.
CHANTILLY, Va., July 26, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company, in a joint venture with Vanir, was selected by the Sacramento County Department of Airports to provide construction management and inspection (CMI) services in support of the Sacramento International Airport (SMF) SMForward Program. The
"Parsons is honored to partner with Vanir and the Sacramento County Department of Airports on this exciting and transformative program," said Mark Fialkowski, president of Infrastructure North America for Parsons. "We bring decades of experience in aviation engineering, program management, and consulting services, as well as innovative solutions that enhance safety, efficiency, and sustainability. We look forward to working with our team and the airport stakeholders to deliver SMForward and create a world-class travel experience for the Sacramento community and visitors."
SMForward, one of Sacramento County Department of Airports' largest capital improvement programs, will significantly enhance the convenience, comfort, and accessibility of SMF, helping accommodate projected passenger growth and further economic development in the region. PVJV’s scope includes the construction management and inspection services for a new parking structure, a new Consolidated Rental Car Facility, additional gates at Terminal A and Terminal B, roadway improvements, and a passenger skywalk to Concourse B.
“Headquartered in Sacramento, Vanir is proud and honored to be involved locally in the SMForward Program alongside our partner, Parsons Corporation. As an industry leader in program, project and construction management, Vanir is privileged to bring its high-quality services to our community. This highly anticipated airport expansion project will have a significant impact on Sacramento, and we are thrilled to collaborate on this remarkable project,” stated Vanir Chairwoman & CEO Dorene Dominguez.
To learn more about Parsons’ aviation expertise, visit www.parsons.com/aviation. To learn more about Vanir’s aviation expertise, visit www.vanir.com/market/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.
About Vanir
Vanir is a national leader in program, project and construction management and real estate development. Ranked as a top firm by Engineering News-Record for more than three decades, our award-winning team provides a full range of services to public and private sector clients in the aviation and transportation; healthcare; education (K-12 and higher); justice and essential services; science and technology; state and local government; commercial, residential, and nonprofit; energy; and water and wastewater markets. Explore Vanir.com and connect with us on LinkedIn and Facebook to learn more about the communities we serve.
About Sacramento County Department of Airports
The Sacramento County Department of Airports is responsible for planning, developing, operating and maintaining the county’s four airports: Sacramento International Airport, Executive Airport, Mather Airport and Franklin Field. Sacramento International Airport offers more than 155 daily nonstop flights on 12 domestic and international carriers to 36 destinations. The regional economic impact of the Sacramento County Department of Airports is more than
Media Contact:
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Chelsie.Mckittrick@parsons.com
Investor Relations Contact:
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