AECOM's New Contract - Analyst Blog
March 14 2013 - 12:59PM
Zacks
AECOM Technology Corp. (ACM) recently announced
that one of its joint ventures won a contract related to the
redevelopment and expansion of the King Khaled International
Airport (KKIA) in Riyadh, Saudi Arabia. The 5-year expansion
project, worth $72 million, is primarily to meet the future
capacity of 30 million passengers annually.
AECOM's key responsibility areas will include program support as
well as project and construction management services. The contract
also entails administration, project planning, design management,
construction management, information and data management. In
addition, public relations and communications, financial
management, contract management, operational readiness and airport
transfer coordination services are also expected to be
performed.
The KKIA passenger terminals are expected to be designed in way
that can handle an increase in capacity. To enable this, AECOM will
be providing a new processing facility; new domestic, international
and swing-capability concourse; renovations for the existing
terminals.
Further, AECOM also intends to supply and offer some temporary
services which will help it to maintain a high level of service
during the construction stages. The temporary services will also
aid in upgrading and expanding the main load center with the
related utility connections.
The airport expansion project is a part of the program led by
the country’s General Authority of Civil Aviation to upgrade KKIA
into a modern commercial airport which is specially designed to
meet the industry-leading standards.
AECOM’s Professional Technical Services (PTS) segment delivers
planning, consulting, architectural and engineering design, and
program and construction management services. Before this airport
expansion project, the company has also been engaged in providing
program management services through a joint venture for the Second
Avenue subway line in New York City, design and contract
administration services for the Hong Kong-Zhuhai-Macao Bridge's
Hong Kong Boundary Crossing Facilities and engineering and
environmental management services to support global energy
infrastructure development for a number of large petroleum and
mining companies. The PTS segment contributed $7.3 billion, or 89%,
of the total revenue in 2012.
AECOM currently carries a Zacks Rank #2 (Buy). Some of its peers
such as Jacobs Engineering Group Inc. (JEC),
Chicago Bridge & Iron (CBI) also carry a Zacks
Rank #2 (Buy). While Orion Marine Group Inc. (ORN)
another player in the same industry is doing well with a Zacks Rank
#1 (Strong Buy).
AECOM TECH CORP (ACM): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
ORION MARINE GP (ORN): Free Stock Analysis Report
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