Parsons Selected to Support Southern California Regional Rail Authority with Metrolink Rail Expansion and Rehabilitation
Rhea-AI Summary
Parsons Corporation (NYSE: PSN) has been awarded a $50 million contract by the Southern California Regional Rail Authority (SCRRA) for a three-year engineering project. This contract will focus on expanding, rehabilitating, and ensuring the safety of the Metrolink System. Parsons was chosen for its expertise in railroad project management and successful implementation of the first positive train control system for a U.S. commuter rail agency. This collaboration aims to enhance transportation connectivity across six Southern California counties.
Positive
- Awarded a $50 million contract, enhancing revenue potential.
- Supported SCRRA's innovative rail system expansion and safety improvements.
- Recognized for expertise in project management and positive train control.
Negative
- None.
News Market Reaction – PSN
In the trading session that priced this news, PSN declined 1.67%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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CENTREVILLE, Va., Oct. 12, 2020 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company has been selected by the Southern California Regional Rail Authority (SCRRA) as one of five engineering firms for a three-year
"The Metrolink System is continually optimizing its network, which connects six Southern California counties to provide safe, seamless and reliable transportation," said Tom Topolski, executive vice president, connected communities market for Parsons. "With deep roots in California, Parsons will utilize our extensive expertise in railroad project management, design, and construction management to support SCRRA as they expand and improve their system to better connect riders to the community."
The contract includes project management, construction management, and staff assistant services in support of planned improvement projects across the Metrolink System. Parsons was selected for its globally recognized commuter and passenger rail experience and expertise, as well as its role in helping SCRRA successfully implement the first positive train control (PTC) system for a commuter rail agency in the United States.
To learn more about Parsons' critical infrastructure expertise, visit Parsons.com/markets/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:
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@Parsons.com
Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
Dave.Spille@parsons.com
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SOURCE Parsons Corporation