MPA Contract Extended to Continue Delivering the Transformational Hudson Tunnel Project, the Most Urgent Rail Project in United States
Parsons Corporation (NYSE: PSN) and its joint venture partners have secured a $665 million contract extension for the Hudson Tunnel Project (HTP), extending their role for 4.5 years. The transformational infrastructure project is progressing on schedule, with the new Gateway Tunnel expected to complete in 2035 and existing tunnel rehabilitation by 2038.
The project is projected to create over 95,000 jobs nationwide and generate more than $19 billion in economic activity. The scope includes constructing a new two-tube rail tunnel under the Hudson River, rehabilitating the existing 115-year-old tunnel, and adding nine miles of new passenger rail track between New York and New Jersey.
Parsons Corporation (NYSE: PSN) e i suoi partner della joint venture hanno assicurato un’estensione di contratto da 665 milioni di dollari per il Hudson Tunnel Project (HTP), estendendo il loro ruolo di 4,5 anni. Il progetto infrastrutturale trasformazionale procede secondo il programma, con il nuovo Gateway Tunnel previsto per essere completato nel 2035 e la riabilitazione del tunnel esistente entro 2038.
Si prevede che il progetto crei oltre 95.000 posti di lavoro a livello nazionale e generi oltre 19 miliardi di dollari di attività economica. L'ambito comprende la costruzione di un nuovo tunnel ferroviario a due tubi sotto il fiume Hudson, la riabilitazione del tunnel esistente, di 115 anni, e l'aggiunta di nove miglia di nuova linea ferroviaria passeggeri tra New York e New Jersey.
Parsons Corporation (NYSE: PSN) y sus socios de joint venture han asegurado una extensión de contrato por 665 millones de dólares para el Hudson Tunnel Project (HTP), extendiendo su rol por 4,5 años. El proyecto de infraestructura transformacional avanza según lo previsto, con el nuevo Gateway Tunnel previsto para completarse en 2035 y la rehabilitación del túnel existente para 2038.
Se espera que el proyecto genere más de 95,000 empleos a nivel nacional y genere más de 19.000 millones de dólares en actividad económica. El alcance incluye la construcción de un nuevo túnel ferroviario de dos tubos bajo el río Hudson, la rehabilitación del túnel existente de 115 años y la incorporación de nueve millas de nueva vía férrea de pasajeros entre Nueva York y Nueva Jersey.
Parsons Corporation (NYSE: PSN) 및 합작 투자 파트너는 해 Hudson Tunnel Project (HTP)를 위한 6억 6500만 달러 계약 연장을 확보하여 그들의 역할을 4.5년 연장했습니다. 이 변혁적인 인프라 프로젝트는 일정대로 진행 중이며, 새로운 Gateway Tunnel은 2035년에 완공될 것으로 예상되며 기존 터널의 재개약은 2038년까지입니다.
이 프로젝트는 전국적으로 9만 5천 개 이상의 일자리를 창출하고 190억 달러가 넘는 경제활동을 창출할 것으로 예상됩니다. 범위에는 허드슨 강 아래 두 튜브의 새로운 철도 터널 건설, 115년 된 기존 터널의 재활성화, 뉴욕과 뉴저지 사이에 새로운 승객용 철도 선로를 9마일 추가하는 것이 포함됩니다.
Parsons Corporation (NYSE: PSN) et ses partenaires de coentreprise ont sécurisé une prolongation de contrat de 665 millions de dollars pour le Hudson Tunnel Project (HTP), prolongeant leur rôle de 4,5 ans. Le projet d'infrastructure transformationnel progresse comme prévu, avec le nouveau Gateway Tunnel prévu pour être achevé en 2035 et la réhabilitation du tunnel existant d'ici 2038.
Le projet devrait créer plus de 95 000 emplois à l'échelle nationale et générer plus de 19 milliards de dollars d'activité économique. Le champ d'application comprend la construction d'un nouveau tunnel ferroviaire à deux tubes sous la rivière Hudson, la réhabilitation de l'ancien tunnel de 115 ans et l'ajout de neuf milles de nouvelle voie ferroviaire passagers entre New York et le New Jersey.
Parsons Corporation (NYSE: PSN) und seine Joint-Venture-Partner haben eine Vertragsverlängerung über 665 Millionen USD für das Hudson Tunnel Project (HTP) sichern können, wodurch ihre Rolle um 4,5 Jahre verlängert wird. Das transformative Infrastrukturprojekt verläuft planmäßig, mit dem neuen Gateway Tunnel, der voraussichtlich im 2035 fertiggestellt wird, und der bestehenden Tunnelrehabilitation bis 2038.
Es wird erwartet, dass das Projekt landesweit über 95.000 Arbeitsplätze schafft und mehr als 19 Milliarden USD an wirtschaftlicher Aktivität generiert. Der Umfang umfasst den Bau eines neuen zwei-Rohr-Schienen-Tunnels unter dem Hudson River, die Rehabilitation des 115 Jahre alten bestehenden Tunnels und die Hinzufügung von neun Meilen neuer Passagierstrecken zwischen New York und New Jersey.
شركة Parsons (المدرجة في بورصة نيويورك: PSN) وشركاؤها في المشروع المشترك حصلوا على تمديد عقد بقيمة 665 مليون دولار لمشروع أنفاق هادسون (HTP)، مما يمدد دورهم لمدة 4.5 سنوات. المشروع البنيوي التحولي يتقدم وفق الجدول، مع توقع اكتمال نفق Gateway الجديد في 2035 وإعادة تأهيل النفق القائم حتى 2038.
من المتوقع أن يخلق المشروع أكثر من 95,000 وظيفة على مستوى البلاد وأن يولد أكثر من 19 مليار دولار من النشاط الاقتصادي. ويتضمن النطاق بناء نفق سكة حديد ذو أنبوبين تحت نهر هادسون، وإعادة تأهيل النفق القائم الذي يبلغ عمره 115 عامًا، وإضافة تسع أميال من مسار سكة حديد ركاب جديد بين نيويورك ونيوجيرسي.
帕森斯公司（纽交所代码：PSN）及其合资伙伴已获得一项6.65亿美元的合同延期，用于哈德逊隧道项目（HTP），这将使他们的角色延长4.5年。该转换性基础设施项目按计划推进，新的 Gateway 隧道预计将于2035年完工，现有隧道的整修工作将于2038年完成。
预计该项目将在全国范围内创造超过95,000个工作机会，并产生超过190亿美元的经济活动。范围包括在哈德逊河下方新建双管铁路隧道、对已有的115年隧道进行整修，以及在纽约与新泽西之间增建九英里的客运铁路轨道。
- None.
- Extended project timeline with completion not expected until 2035-2038
- Complex infrastructure project with significant execution risks
Insights
Parsons secures $665M contract extension on Hudson Tunnel Project, strengthening revenue visibility through 2029 while cementing their position in major infrastructure delivery.
The $665 million contract extension awarded to the MPA joint venture (including Parsons) represents significant positive news for PSN shareholders. This 4.5-year extension provides substantial revenue visibility through approximately 2029 in Parsons' Critical Infrastructure segment.
The Hudson Tunnel Project's scale is impressive - creating over 95,000 jobs and generating $19 billion in economic activity. For Parsons specifically, this extension solidifies their position in the delivery partner model for mega-infrastructure projects, a business approach with "internationally proven success" that could strengthen their competitive position for future large-scale government contracts.
The contract extension indicates successful initial performance by the joint venture, which was originally selected in February 2024. This continuation signals client satisfaction and execution capability on what's described as "the most urgent rail infrastructure project in the United States."
This project also enhances Parsons' credentials in transportation infrastructure modernization – particularly valuable as public infrastructure spending increases nationwide. The long timeline (tunnel completion by 2035 and rehabilitation by 2038) suggests potential for additional contract extensions and revenue opportunities beyond this current award.
As part of a joint venture with Mace and Arcadis, the exact revenue attribution to Parsons isn't specified, but even assuming equal partnership, this represents approximately
Hudson Tunnel Project Proves that America is Building Again
NEW YORK, Sept. 30, 2025 (GLOBE NEWSWIRE) -- MPA Delivery Partners, the joint venture of Mace, Parsons Corporation (NYSE: PSN), and Arcadis (EURONEXT: ARCAD) announced today that the team has been awarded a
The HTP is progressing on-schedule and expected to create more than 95,000 jobs around the United States and generate more than
“This is a once-in-a-generation project and a true collaboration between the public and private sectors that will serve as a model for delivering future mega-infrastructure projects around the world,” said Joe Marie, project executive for MPA Delivery Partners. “We are united in our goal of successfully completing this critical project, which will transform the Northeast Corridor and deliver billions of dollars of economic growth to the U.S. economy. GDC and MPA function as a fully integrated partnership, working closely together to ensure the Hudson Tunnel Project is completed on time and within budget.”
The Hudson Tunnel Project is the cornerstone of the Gateway Program and is widely considered the most urgent rail infrastructure project in the United States. The transformational project involves building a brand new two-tube rail tunnel under the Hudson River and rehabilitating the existing 115-year-old tunnel as well as nine miles of new passenger rail track between New York and New Jersey to improve passenger rail service and enhance the reliability of the Northeast Corridor. These improvements will accelerate economic prosperity and growth around the country while improving long-term reliability and redundancy of the regional and national rail networks for NJ TRANSIT and Amtrak. Ultimately, the Hudson Tunnel Project will establish a new 100-year legacy of engineering excellence built by and for America.
MPA was selected as the delivery partner on the project in February 2024. The delivery partner model has an internationally proven track record for helping public agencies deliver large-scale infrastructure projects. The collaborative delivery partner model has an internationally proven success record for helping public- and private-sector organizations deliver large-scale capital projects with benchmark efficiency and socioeconomic benefits.
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:
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@parsons.com
Investor Relations Contact:
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Dave.Spille@parsons.us
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