Parsons Extends Bridge Franchise with America’s River Crossing Award
Parsons (NYSE: PSN) has been selected by the Tennessee Department of Transportation as lead designer for the America's River Crossing project in Memphis.
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Rhea-AI Summary
Parsons (NYSE: PSN) has been selected by the Tennessee Department of Transportation as lead designer for the America's River Crossing project in Memphis. The project will replace the existing 75-year-old I-55 bridge, which is expected to support approximately 64,000 vehicles daily by 2050, connecting Tennessee, Arkansas, and Mississippi. The project aims to enhance route resiliency, safety, and maintain good repair standards.
This award strengthens Parsons' bridge design portfolio, which now includes 24 Mississippi River crossings, with five currently in progress. The company brings extensive experience, having designed over 4,500 bridges, 10,000 miles of roadways, and implemented more than 50 advanced traffic management systems globally.
Positive
- Secured major infrastructure contract as lead designer for America's River Crossing project
- Expands Mississippi River crossings portfolio to 24 bridges, with 5 ongoing projects
- Strengthens market position in critical infrastructure and bridge design sector
Negative
- None.
Details
News Market Reaction – PSN
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CHANTILLY, Va., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the Tennessee Department of Transportation (TDOT) has selected the company to serve as lead designer for the proposed America’s River Crossing project, a pivotal infrastructure project aimed at enhancing transportation connectivity and economic growth in the Memphis region. This contract win marks a significant milestone for Parsons, further solidifying its position as a leader in long-span bridge design.
The proposed America’s River Crossing project will replace the existing 75-year-old I-55 bridge, which, by 2050, is projected to support approximately 64,000 vehicles carrying residents, workers, and freight moving between Tennessee, Arkansas, and Mississippi every day. Parsons is responsible for delivering a design to address route resiliency, improve safety, and maintain a state of good repair.
"Our selection for the America’s River Crossing project is a testament to Parsons' dedication to delivering high-quality, transformative infrastructure solutions that keep our communities moving," said Mark Fialkowski, president of Infrastructure North America for Parsons. "The proposed project not only reinforces our leadership in bridge design but also demonstrates our commitment to supporting communities and fostering economic development through robust transportation systems."
With this new project, Parsons continues its legacy of excellence in the bridge sector, now encompassing 24 Mississippi River crossings, including five currently underway. The proposed project, still under final contracting, will improve mobility and address traffic flow and operations for local and regional motorists and travelers in the tri-state area. Parsons’ extensive experience and commitment to innovative engineering solutions have positioned the company as the go-to firm for critical infrastructure delivery.
Parsons has decades of experience designing, delivering, and protecting the infrastructure that connects our communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. Our experience includes more than 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments that help cities and states improve safety and travel efficiency while also reducing emissions and energy costs to enhance the quality of life in the communities we serve.
To learn more about Parsons’ century of bridge design expertise, visit www.Parsons.com/bridge/.
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:
Lexus K. White
+1 470.510.6690
Lexus.White@parsons.com
Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.us
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