A joint venture between
AECOM Technology Corporation
) Australian business and Aurecon Design has won a multi-million
dollar contract for Australia's Moreton Bay Rail project. The
financial terms of the deal were not disclosed.
The scope of the contract entails the joint venture to provide
components of the critical design services for the rail project
valued approximately $1.07 billion. The joint venture will be
undertaking design services for the project's civil and
structural construction, including designing the stations, access
roads and car parks along with the rail component designs.
The new railway line, once completed, is expected to provide a
safe alternative for commuters using highway from Moreton Bay to
Brisbane. The new line will consist of a 7.8 mile long dual-track
passenger line that will be connecting the major stations between
Petrie and Kippa-Ring.
The commuters will also be able to board the trains from the
six new stations located at Kallangur, Murrumba Downs, Mango
Hill, Mango Hill East, Rothwell and Kippa-Ring. These
state-of-the-art new stations are designed to include parking for
commuters, bus connectivity, kiss and ride along with some other
facilities that will enhance the transportation network in the
region. This new railway line is expected to be operational in
2016 and major construction is expected to start from the
beginning of 2014.
Based in Los Angeles, AECOM is a global provider of
professional technical and management support services to a broad
range of markets, including transportation, facilities,
environmental and energy.
AECOM currently carries a Zacks Rank #4 (Sell). Other
better-ranked stocks worth considering at the moment include
), which carries a Zacks Rank #1 (Strong Buy), and
Jiangsu Expressway Co. Ltd.
), both carrying a Zacks Rank #2 (Buy).
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