So, you know how everyone in Seattle talks about traffic and transit? Well, AECOM (ACM) just got tapped to help do something about it. On Friday, the infrastructure firm announced it won a trio of contracts from the regional transit agency, Sound Transit, to support a bunch of upcoming transportation projects. Basically, they're going to be a key player in trying to make getting around the Seattle area a bit easier.
The gig involves providing engineering design, environmental review, and construction management services. Think light rail extensions, commuter rail upgrades, and bus network improvements—all the stuff aimed at adding more seats and making the system more reliable.
These aren't just one-off jobs. The agreements were awarded through what are called multiple-award task order contracts, which will guide the work over the next five years. Sound Transit has handed out 19 of these contracts in total under this broader initiative. All that work could add up to about $1 billion in engineering services over the performance period. That's a serious chunk of change for the engineering world.
For AECOM, the role is pretty central. They'll act as the lead firm on the design contract, managing all the civil and structural engineering—from the early "how might this work?" sketches all the way through to the final blueprints. On top of that, they'll help with the environmental planning, which includes systemwide studies and navigating the regulatory maze to get approvals for new projects and renewals. And as if that wasn't enough, they'll also pitch in on project and construction management for the major capital improvements. They're wearing a lot of hard hats on this one.
Russell Jackson, the interim chief executive of AECOM's global Transportation business, said the firm's experience with other big transit systems will come in handy. "We look forward to supporting Sound Transit as it plans, designs and delivers the next generation of regional mobility that increases capacity, improves reliability and expands accessibility," Jackson said. In other words, they've done this before in other cities and plan to bring those lessons to the Pacific Northwest.
As for the stock, AECOM shares closed at $99.56 on Thursday, up 5.68% for the day, according to market data.
