Recently,
Tetra Tech Inc.
(
TTEK
) received a contract to provide technical support to People,
Rules, and Organizations Supporting the Protection of Ecosystem
Resources (PROSPER) program of the U.S. Agency for International
Development (USAID). Through this $20.4 million contract,
Tetra Tech will help USAID promote community management of forests
and other natural resources in Liberia.
Liberia is famous worldwide for biodiversity and has the largest
remaining blocks of the Upper Guinea forest in West Africa. The
time period for the PROSPER program is five years.
As per the contract, Tetra Tech will be providing training and
knowledge transfer, community outreach, capacity building, and
other technical support to solidify the legal and policy framework
for community management of forest resources. Further, through this
program, the basic land tenure, local governance, and property
rights will improve.
About one-third of the Earth's land surface is covered by
forest, which provides many valuable resources, but in the recent
times there has been a rapid destruction of the same. For a country
like Liberia, forests play a vital role in its economic and social
development, and therefore sustainable forest management programs
and ecosystem protection are an urgent necessity.
According to reports from Common Sense Environmental Fund, only
13% of the world's forestlands are under forest
management programs and 2% of the world's forests are protected by
forest reserves.
Through this contract, Tetra Tech will help USAID in its
initiatives of proper land tenure and in environmentally
sustainable development of the region.
Tetra Tech Inc. is a leading provider of consulting,
engineering, program management, construction and technical
services focusing on resource management and infrastructure. It
serves clients by providing cost-effective and innovative solutions
to fundamental needs for water, environmental and alternative
energy services. Major competitors of Tetra Tech are Arcadis NV,
Shaw Group Inc.
(
SHAW
) and
URS Corporation
(
URS
).
We currently maintain our Neutral rating on Tetra Tech Inc. with
a Zacks #2 Rank (short-term Buy recommendation) over the next
one-to-three months.
SHAW GROUP INC (SHAW): Free Stock Analysis
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