Parsons Continues to Drive Success for San Diego Pure Water Program

Rhea-AI Summary

Parsons (NYSE: PSN) has secured a task order extension for the San Diego Pure Water Program, continuing its role in an eight-year, $110 million joint venture contract with Black & Veatch awarded in 2018. The project focuses on providing construction management services for treatment plants and facilities.

The program aims to reduce San Diego's dependence on imported water by producing 83 million gallons of water daily by 2035, representing nearly half of the city's water supply. The initiative will also cut treated wastewater ocean discharges by 50%.

Under the extension, Parsons will continue managing construction of the North City Pure Water Facility (NCPWF), a state-of-the-art treatment facility designed to produce up to 34 million gallons of water daily during Phase 1 of the program.

Positive

• Secured extension of existing $110 million contract
• Project contributes to long-term recurring revenue through 2035
• Strengthens position in sustainable infrastructure sector

Negative

• None.

News Market Reaction

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+0.97% News Effect

On the day this news was published, PSN gained 0.97%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHANTILLY, Va., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has initiated a task order extension supporting the San Diego Pure Water program. This task order is a component of the eight-year, $110 million contract the Parsons-led joint venture with Black & Veatch was awarded in 2018 to provide comprehensive construction management services for treatment plants and associated facilities integral to the Pure Water Program.

The San Diego Pure Water Program is a pivotal initiative implemented by the City of San Diego to reduce its reliance on imported water and provide a reliable, local, and sustainable water supply. Upon full implementation by 2035, the program is expected to produce 83 million gallons of water per day, nearly half of San Diego's overall water supply and will reduce the city’s treated wastewater ocean discharges by 50%, contributing to healthier ocean ecosystems and promoting responsible water reuse.

“Parsons is proud of our involvement in the San Diego Pure Water Program, which not only addresses critical water needs but also advances sustainability,” said Mark Fialkowski, president of Infrastructure North America for Parsons. “This project exemplifies our commitment to delivering innovative solutions that enhance community resilience and promote resource conservation.”

Under this task order, Parsons and Black & Veatch will continue to provide construction management services for the North City Pure Water Facility (NCPWF), which is part of Phase 1 of the Pure Water Program. The new facility will be a state-of-the-art advanced water treatment facility designed to produce up to 34 million gallons of water per day and will be equipped with the most advanced controls and monitoring systems to ensure treatment reliability.

Parsons remains dedicated to delivering high-quality construction management services that support the long-term goals of the San Diego Pure Water Program and the City of San Diego’s vision of innovative water resource management, ensuring a sustainable and eco-friendly water supply for the community.

To learn more about Parsons’ sustainable solutions for our most important resource, visit https://www.parsons.com/water-wastewater/.

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:
Chelsie McKittrick
+1 512.719.6877
Chelsie.Mckittrick@parsons.com

Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us

FAQ

What is the value of Parsons' (PSN) San Diego Pure Water Program contract?

The Parsons-led joint venture with Black & Veatch was awarded an eight-year, $110 million contract in 2018 for construction management services.

How many gallons of water will the San Diego Pure Water Program produce by 2035?

The program is expected to produce 83 million gallons of water per day by 2035, representing nearly half of San Diego's overall water supply.

What is the daily production capacity of the North City Pure Water Facility (NCPWF)?

The North City Pure Water Facility is designed to produce up to 34 million gallons of water per day.

How will PSN's Pure Water Program impact San Diego's ocean discharge?

The program will reduce San Diego's treated wastewater ocean discharges by 50%, contributing to healthier ocean ecosystems.

When was Parsons (PSN) initially awarded the San Diego Pure Water Program contract?

Parsons and Black & Veatch were awarded the contract in 2018 as part of a joint venture.