AECOM Technology Corp.
) recently announced that one of its joint ventures won a
contract related to the redevelopment and expansion of the King
Khaled International Airport (KKIA) in Riyadh, Saudi Arabia. The
5-year expansion project, worth $72 million, is primarily to meet
the future capacity of 30 million passengers annually.
AECOM's key responsibility areas will include program support
as well as project and construction management services. The
contract also entails administration, project planning, design
management, construction management, information and data
management. In addition, public relations and communications,
financial management, contract management, operational readiness
and airport transfer coordination services are also expected to
The KKIA passenger terminals are expected to be designed in
way that can handle an increase in capacity. To enable this,
AECOM will be providing a new processing facility; new domestic,
international and swing-capability concourse; renovations for the
Further, AECOM also intends to supply and offer some temporary
services which will help it to maintain a high level of service
during the construction stages. The temporary services will also
aid in upgrading and expanding the main load center with the
related utility connections.
The airport expansion project is a part of the program led by
the country's General Authority of Civil Aviation to upgrade KKIA
into a modern commercial airport which is specially designed to
meet the industry-leading standards.
AECOM's Professional Technical Services (PTS) segment delivers
planning, consulting, architectural and engineering design, and
program and construction management services. Before this airport
expansion project, the company has also been engaged in providing
program management services through a joint venture for the
Second Avenue subway line in New York City, design and contract
administration services for the Hong Kong-Zhuhai-Macao Bridge's
Hong Kong Boundary Crossing Facilities and engineering and
environmental management services to support global energy
infrastructure development for a number of large petroleum and
mining companies. The PTS segment contributed $7.3 billion, or
89%, of the total revenue in 2012.
AECOM currently carries a Zacks Rank #2 (Buy). Some of its
peers such as
Jacobs Engineering Group Inc.
Chicago Bridge & Iron
) also carry a Zacks Rank #2 (Buy). While
Orion Marine Group Inc
) another player in the same industry is doing well with a Zacks
Rank #1 (Strong Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
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JACOBS ENGIN GR (JEC): Free Stock Analysis
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