AECOM Technology Corporation
) joint venture recently won a $285.8 million contract along with
its joint venture partners Murphy and Kier to revamp Deephams
Sewage Treatment Works in London. The deal was awarded by Thames
Water, a private utility company responsible for the public water
supply and waste water treatment in large parts of Greater
London. However, the deal failed to cheer investors and share
prices fell 3.3% till Thursday.
The scope of the contract entails the joint venture partners
to undertake upgradation of the sewage work facility in
accordance with the new environment agency sewage treatment
standards. The work will be executed without compromising the
day-to-day operations of the facility.
Deephams Sewage Treatment Works is a major sewage facility in
London and is a critical component of the U.K.'s water industry.
The upgradation is expected to increase the capacity of River Lee
in order to meet the requirements of the growing population. It
will also reduce the intensity of odor on the facility site.
AECOM and partners are expected to initiate the project as
soon as possible, beginning with the drafting of planning
application in summer 2014. AECOM's energy-neutral yet
cost-effective solutions are positives for this challenging
Based in Los Angeles, AECOM provides professional, technical
and management support services across the globe to a broad range
of markets, including transportation, facilities, environmental
and energy. The company supports governments of various countries
to improve and expand their infrastructure.
AECOM currently carries a Zacks Rank #4 (Sell). Better-ranked
stocks in the engineering and construction sector 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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