Tetra Tech Awarded $32 Million USAID Environmental Remediation Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $32 million contract by USAID to provide architect and engineering services for dioxin remediation at the Bien Hoa Air Base area in Vietnam. The five-year contract includes engineering design, construction management, and environmental monitoring of civil works and treatment activities to reduce the risk of exposure to dioxin-contaminated soil and sediment, and restore the land for full use. Tetra Tech will also evaluate and optimize treatment technologies to meet project objectives, considering climate risks throughout the project.

Positive

• Tetra Tech, Inc. (NASDAQ: TTEK) has a strong track record of supporting USAID's environmental cleanup programs in Vietnam since 2012, showcasing their expertise and experience in this area.

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• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that the U.S. Agency for International Development (USAID) has awarded the Company a $32 million, single-award contract to provide architect and engineering services for dioxin remediation at the Bien Hoa Air Base area in Vietnam.

Under this five-year contract Tetra Tech will provide engineering design, construction management, and environmental monitoring of civil works and treatment activities for dioxin-contaminated soil and sediment to reduce the risk of exposure to people on the Air Base as well as in the communities that border it, and to restore the land for full use. Tetra Tech scientists and engineers will support USAID in evaluating the design and optimizing the performance of treatment technologies to meet the project objectives. Climate risks also will be considered throughout the project to mitigate potential impacts due to changing climatic conditions.

“Tetra Tech has supported USAID’s environmental cleanup programs in Vietnam since 2012,” said Dan Batrack, Tetra Tech Chairman and CEO. “We are pleased to continue using our Leading with Science^® approach to apply innovative technologies to effectively remediate the soils and sediments in and around the Bien Hoa Air Base facilities.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 27,000 employees working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230731947758/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the contract awarded to Tetra Tech by USAID for?

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $32 million contract by USAID to provide architect and engineering services for dioxin remediation at the Bien Hoa Air Base area in Vietnam.

What are the key services included in the five-year contract?

The five-year contract includes engineering design, construction management, and environmental monitoring of civil works and treatment activities to reduce the risk of exposure to dioxin-contaminated soil and sediment, and restore the land for full use.

How will Tetra Tech support USAID in the project?

Tetra Tech will evaluate and optimize treatment technologies to meet project objectives, considering climate risks throughout the project.