AECOM-led joint venture selected as delivery partner for Frederick Douglass Tunnel Program in Baltimore
April 08 2024 - 5:55AM
Business Wire
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting
firm, today announced that an AECOM-led joint venture with Jacobs
has been selected by Amtrak to serve as delivery partner for the $6
billion Frederick Douglass Tunnel Program that will upgrade a
ten-mile section of the Northeast Corridor (NEC), America’s busiest
passenger rail line.
The cornerstone of the program will be the delivery of the
Frederick Douglass Tunnel featuring two new high-capacity tubes for
electrified passenger trains. Located south of Baltimore Penn
Station, the new tunnel will replace the existing 150-year-old
B&P Tunnel and, once complete, it will deliver a faster, more
reliable trip for more than 12 million annual Amtrak and MARC
customers in the region.
“As the trusted delivery partner on some of the world’s most
transformative rail projects, we're proud to continue our
long-standing history with Amtrak to deliver this highly complex
tunneling program,” said Mark Southwell, chief executive of AECOM’s
global Transportation business. “This ambitious program will
enhance passenger mobility by unlocking the biggest rail bottleneck
between Washington D.C. and New Jersey while also supporting
low-carbon, electrified service and fostering economic growth
through job creation in Baltimore and the surrounding region.”
The joint venture will be responsible for overseeing the full
breadth of the program, including supervision of all anticipated
program contracts. The scope of services includes program
management, design oversight, construction oversight, commissioning
oversight, program controls, and commercial and capacity
building.
“Through this transformational program, thousands of passengers
who rely on this critical connection each day can expect to benefit
from an improved ride with decreased delays and enhanced
operational and safety features,” said Drew Jeter, chief executive
of AECOM’s Program Management global business line. “We look
forward to partnering with Amtrak to deliver this important
investment, transforming the passenger experience through our
integrated, digitally-enabled program management approach and our
global team of innovative experts.”
The Program will also include delivery of a new roadway and
railroad bridges, new rail systems and track, and a new
ADA-accessible West Baltimore MARC station. Further updates will
involve the integration of modern fire and safety systems,
including emergency pathways to the surface and fire ventilation
systems.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure
consulting firm, delivering professional services throughout the
project lifecycle – from advisory, planning, design and engineering
to program and construction management. On projects spanning
transportation, buildings, water, new energy, and the environment,
our public- and private-sector clients trust us to solve their most
complex challenges. Our teams are driven by a common purpose to
deliver a better world through our unrivaled technical and digital
expertise, a culture of equity, diversity and inclusion, and a
commitment to environmental, social and governance priorities.
AECOM is a Fortune 500 firm and its Professional Services business
had revenue of $14.4 billion in fiscal year 2023. See how we are
delivering sustainable legacies for generations to come at
aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of
historical fact are “forward-looking statements” for purposes of
federal and state securities laws, including any statements of the
plans, strategies and objectives for future operations,
profitability, strategic value creation, risk profile and
investment strategies, and any statements regarding future economic
conditions or performance, and the expected financial and
operational results of AECOM. Although we believe that the
expectations reflected in our forward-looking statements are
reasonable, actual results could differ materially from those
projected or assumed in any of our forward-looking statements.
Important factors that could cause our actual results, performance
and achievements, or industry results to differ materially from
estimates or projections contained in our forward-looking
statements include, but are not limited to, the following: our
business is cyclical and vulnerable to economic downturns and
client spending reductions; potential government shutdowns or other
funding circumstances that may cause governmental agencies to
modify, curtail or terminate our contracts; losses under
fixed-price contracts; limited control over operations that run
through our joint venture entities; liability for misconduct by our
employees or consultants; failure to comply with laws or
regulations applicable to our business; maintaining adequate surety
and financial capacity; potential high leverage and inability to
service our debt and guarantees; ability to continue payment of
dividends; exposure to political and economic risks in different
countries, including tariffs, geopolitical events, and conflicts;
currency exchange rate and interest fluctuations; retaining and
recruiting key technical and management personnel; legal claims;
inadequate insurance coverage; environmental law compliance and
adequate nuclear indemnification; unexpected adjustments and
cancellations related to our backlog; partners and third parties
who may fail to satisfy their legal obligations; managing pension
costs; AECOM Capital real estate development projects;
cybersecurity issues, IT outages and data privacy; risks associated
with the benefits and costs of the sale of our Management Services
and self-perform at-risk civil infrastructure, power construction
and oil and gas businesses, including the risk that any purchase
adjustments from those transactions could be unfavorable and result
in any future proceeds owed to us as part of the transactions could
be lower than we expect; as well as other additional risks and
factors that could cause actual results to differ materially from
our forward-looking statements set forth in our reports filed with
the Securities and Exchange Commission. Any forward-looking
statements are made as of the date hereof. We do not intend, and
undertake no obligation, to update any forward-looking
statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240408579958/en/
Media Contact: Brendan Ranson-Walsh Senior Vice
President, Global Communications 1.213.996.2367
Brendan.Ranson-Walsh@aecom.com
Investor Contact: Will Gabrielski Senior Vice President,
Finance, Treasurer 1.213.593.8208 William.Gabrielski@aecom.com
AECOM (NYSE:ACM)
Historical Stock Chart
From Apr 2024 to May 2024
AECOM (NYSE:ACM)
Historical Stock Chart
From May 2023 to May 2024