Parsons Awarded $114 Million Contract By Qatar Public Works Authority To Improve Infrastructure
Parsons Corporation (NYSE: PSN) has secured a $114 million contract with the Qatar Public Works Authority for site supervision services in the western area of Qatar and Doha City.
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Rhea-AI Summary
Parsons Corporation (NYSE: PSN) has secured a $114 million contract with the Qatar Public Works Authority for site supervision services in the western area of Qatar and Doha City. This four-year agreement encompasses contract management and supervision of significant infrastructure projects, including roads in Duhail South, Umm Lekhba, and surrounding districts. Parsons has been a trusted consultant to the PWA for over 20 years, and the contract may extend for an additional two years. These projects will be executed over the next five to seven years.
Positive
- Awarded a significant contract worth $114 million.
- Contract duration of four years with a two-year optional extension.
- Continuation of a 20-year relationship with Qatar Public Works Authority.
Negative
- None.
Details
News Market Reaction – PSN
The recorded move for PSN in the trading session of this news was -4.10%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
CENTREVILLE, Va., May 4, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Qatar Public Works Authority (PWA) to provide site supervision services for projects in the western area of Qatar as well as Doha City. The
"Our team has served as a trusted consultant to the PWA for more than 20 years, and we look forward to continuing to enhance Qatar's infrastructure, improving livability for residents and advancing future development plans," said Pierre Santoni, president, Middle East Africa (MEA) business unit for Parsons.
Parsons will support PWA's planned infrastructure projects for the duration of the contract, which includes an optional two-year extension. PWA intends to deliver the projects over the next five to seven years.
To learn more about Parsons' Critical Infrastructure expertise, visit Parsons.com/market/critical-infrastructure/.
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, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we're making an impact.
Media Contact:
Theresa Wederman
+1 704.618.9710
theresa.wederman@gmail.com
Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
Dave.Spille@parsons.com
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SOURCE Parsons Corporation
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