Latest news with #ParsonsCorporation
The National
5 days ago
- Business
- The National
Dubai Metro Blue Line: How city's mega-project is being delivered
The Dubai Metro Blue Line is as 'complex' a project as they come because it will deliver rail into existing communities. A senior representative of Parsons Corporation – picked by Dubai's Roads and Transport Authority as project management consultants for the build – has told The National about the huge challenges and major benefits of the mega-project that is set to carry 320,000 passengers a day by 2040. 'We're delivering a project in the middle of a live city – into very busy and very dense environments … such as International City and Mirdif,' said Pierre Santoni, president for infrastructure in Europe, the Middle East and Africa. The RTA awarded the $5.6 billion contract last year and construction has started. It will have 14 stations, 30km of track, connect to the existing metro, have a bridge spanning Dubai Creek, an iconic station at Dubai Creek Harbour and a huge underground interconnector station at International City that all bring a 'huge number of challenges'. The project will involve diverting traffic, tunnelling, pumping water out of the ground so workers can operate in a dry environment and, crucially, rerouting utilities as they pass gas and transmission lines. 'Everybody wants to go home and be able to turn on the electricity,' he said. 'Probably traffic management around the construction zones and making sure the utilities continue running … are the two most visible parts of the challenges.' Parsons Corporation, along with its partner AtkinsRealis, has a five-year contract on the project. A growing metropolis Aerial maps of Dubai clearly show why the new line is needed. The city has expanded south in a bulge of industrial, commercial and residential developments that will now be served by the new rail system. The catchment area for the new metro line is expected to be about 1 million people and Mr Santoni said it was going to be 'totally transformational'. 'It is connecting parts of Dubai that are in dire need of public transport connectivity,' he said. "If you're in International City today and are looking to get to the airport, while it is now partially possible through public transport with the Blue Line travelers will be able to get to the airport within 15 mins making journeys much more efficient and convenient." The line is set open on September 9, 2029 – twenty years after the very first Metro opened – and is set to add about 30 per cent capacity to the current system with the RTA previously stating it would reduce traffic along the alignment by 20 per cent. The metro will also serve Dubai Silicon Oasis, a strategic centre under the Dubai 2040 Urban Master Plan, and Dubai Academic City, anticipated to host more than 50,000 university students by 2029. Mr Santoni said the stations are 'marginally larger than previous ones' but the size of the trains and length of platforms are largely the same so capacity cannot be increased by adding more trains. Therefore much work has focused on getting trains faster through stations and getting people in and out of the stations quickly using technology and ease of access. Integration is key The soaring station at Dubai Creek Harbour has caught the eye but the project also includes an underground interchange station at International City. Mr Santoni said two tunnels will be dug underneath International City and this will happen largely without disruption to the community. Another station, at the sprawling Chinese Dragon Mart, is noteworthy. Integrating the metro with other modes of transport from ferries to taxis is crucial. He said lessons were learnt from the existing Metro. 'We have personal electric vehicles, mopeds … [and] electric vehicles, charging stations and things like this need to be accommodated in some of the parking areas. 'Whatever mode of transport people use … they should be able to leave it there in a safe way, protected. At the end of the day, nobody wants to spend time getting to the station.' He also pointed to what's known as 'transit-oriented' development – where communities are planned around the system – and this became more prevalent during the metro's Expo extension. 'That was a perfect example,' he said. 'That's why when you arrive, it's a seamless experience in and out and we're trying to do that for the Blue Line a lot more.' The Blue Line also supports urban planning initiatives such as the 20-minute city, ensuring that more than 80 per cent of services are accessible in a 20-minute commute without having to use a car. Turning to the broader economic benefits, it has been put at a '2.6' benefit to cost ratio, meaning for every dirham spent then at least Dh2.6 would come back. This considers time savings, reduced carbon emissions and traffic benefits but crucially does not take into future benefits such as property price rises. Mr Santoni also paid tribute to the RTA and the government of Dubai and said Parsons was grateful to be entrusted with the responsibility of the project. Parsons, meanwhile, has been involved in some of Dubai's most epic projects from the Dubai Canal to the iconic Infinity Bridge that spans the Creek. And Mr Santoni, a civil engineer by trade who arrived in 2005, has had a front-row seat to the huge changes in the city. 'My first project was Discovery Gardens,' he said. 'My second was Jumeirah Lakes Towers. It is amazing to see the growth of the city and … to see that it is doing so well.'
Associated Press
03-07-2025
- Business
- Associated Press
Parsons to Announce Second Quarter 2025 Financial Results on August 6, 2025
CHANTILLY, Va., July 03, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release second quarter 2025 financial results before the markets open on Wednesday, August 6, 2025. The company will host a conference call at 8:00 a.m. Eastern Time that day to discuss its earnings results and strategic corporate initiatives. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website ( ). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. About Parsons Corporation Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit and follow us on LinkedIn and Facebook to learn how we're making an impact.
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Parsons Grows U.S. Army Organic Industrial Base Modernization Portfolio with $169.5 Million Award
CHANTILLY, Va., June 16, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $169.5 million single award contract by the United States Army Corps of Engineers (USACE) Norfolk District to provide design-build delivery services for a new Ammonium Nitrate Solution (ANSol) Tank Farm at Holston Army Ammunition Plant (HSAAP). The four-year contract is new work for the company. Under this contract, Parsons will provide integrated delivery services for the ANSol tank farm, enabling the HSAAP to increase storage requirements for ANSol, a byproduct of the explosives manufacturing process. The new tank farm will replace HSAAP's existing storage tanks to support expanded manufacturing at the Government Owned Contractor Operated facility. 'Parsons is a trusted partner in advancing the U.S. Army's Organic Industrial Base (OIB) Modernization Implementation Plan,' said Jon Moretta, President, Engineered Systems for Parsons. 'Holston Army Ammunition Plant has a vital role in ensuring our nation's warfighters have what they need when they need it to successfully carry out missions around the world. As the number of organic industrial base modernization projects grow, we remain ready to leverage our experience and innovative technology solutions to improve readiness and operations.' The U.S. Army is currently engaged in a multi-year, multi-billion-dollar plan aimed at modernizing the organic industrial base, which encompasses upgrades to facilities, processes, and workforce capabilities throughout depots, arsenals, and ammunition plants. This award grows Parsons' role in these efforts and is the company's third USACE Norfolk District award in four years. In 2023, Parsons was selected to deliver a new Explosive Decomposition Chamber facility at HSAAP, and in 2021, the company was awarded a design-build contract for a new Energetic Waste Incinerator/Contaminated Waste Processor at Radford Army Ammunition Plant. To learn more about Parsons' industrial base modernization solutions, visit About Parsons: Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit and follow us on LinkedIn and Facebook to learn how we're making an impact. Forward-Looking Statements: This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government's budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors' protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption 'Risk Factors' in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws. Media Contact: Jonathan Larry +1 706.832.7330
Associated Press
16-06-2025
- Business
- Associated Press
Parsons Grows U.S. Army Organic Industrial Base Modernization Portfolio with $169.5 Million Award
CHANTILLY, Va., June 16, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $169.5 million single award contract by the United States Army Corps of Engineers (USACE) Norfolk District to provide design-build delivery services for a new Ammonium Nitrate Solution (ANSol) Tank Farm at Holston Army Ammunition Plant (HSAAP). The four-year contract is new work for the company. Under this contract, Parsons will provide integrated delivery services for the ANSol tank farm, enabling the HSAAP to increase storage requirements for ANSol, a byproduct of the explosives manufacturing process. The new tank farm will replace HSAAP's existing storage tanks to support expanded manufacturing at the Government Owned Contractor Operated facility. 'Parsons is a trusted partner in advancing the U.S. Army's Organic Industrial Base (OIB) Modernization Implementation Plan,' said Jon Moretta, President, Engineered Systems for Parsons. 'Holston Army Ammunition Plant has a vital role in ensuring our nation's warfighters have what they need when they need it to successfully carry out missions around the world. As the number of organic industrial base modernization projects grow, we remain ready to leverage our experience and innovative technology solutions to improve readiness and operations.' The U.S. Army is currently engaged in a multi-year, multi-billion-dollar plan aimed at modernizing the organic industrial base, which encompasses upgrades to facilities, processes, and workforce capabilities throughout depots, arsenals, and ammunition plants. This award grows Parsons' role in these efforts and is the company's third USACE Norfolk District award in four years. In 2023, Parsons was selected to deliver a new Explosive Decomposition Chamber facility at HSAAP, and in 2021, the company was awarded a design-build contract for a new Energetic Waste Incinerator/Contaminated Waste Processor at Radford Army Ammunition Plant. To learn more about Parsons' industrial base modernization solutions, visit About Parsons: Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit follow us onLinkedInandFacebookto learn how we're making an impact. Forward-Looking Statements: Media Contact: Jonathan Larry +1 706.832.7330 [email protected] Investor Relations Contact: Dave Spille +1 703.775.6191 [email protected]
Globe and Mail
30-05-2025
- Business
- Globe and Mail
Parsons to Present at Baird's 2025 Global Consumer, Technology & Services Conference
CHANTILLY, Va., May 30, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) chair, president, and chief executive officer, Carey Smith, will present at Baird's 2025 Global Consumer, Technology & Services Conference on Wednesday, June 4, 2025, at approximately 2:35 p.m. Eastern Time. This presentation will be available live via webcast on the investor relations section of Parsons' website ( A replay of the webcast also will be available on the website for 30 days. About Parsons Corporation Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit and follow us on LinkedIn and Facebook to learn how we're making an impact.
