AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that it has won two contracts in the Middle East totaling US$60 million.
The wins are an extension from Aldar Properties for a multi-year, US$45-million design and construction-management contract for the Al Raha Beach Development project in Abu Dhabi, United Arab Emirates, and a US$15-million contract to provide program-management services for the first phase of the Knowledge Economic City in Madinah, Saudi Arabia.
As the lead design and engineering consultant for construction services on the Al Raha Beach Development, AECOM will enable the extension and further development of the project site, which is currently 5 miles long. The US$14-billion development will consist of residential, retail, recreational and commercial properties, including marinas and canal developments.
“We are proud of the excellent work provided by our Al Raha Beach Development team during the past four years and are excited about the opportunity to build on this relationship in providing design and construction management services to enhance and develop this area,” said AECOM President and Chief Executive Officer John M. Dionisio.
Construction services for the project are slated for completion near the end of 2010.
For the 2,075-acre Knowledge Economic City project, which has an estimated construction value of US$8 billion, AECOM will provide services such as project controls, procurement, construction logistics and construction-phase project management.
The Knowledge Economic City development is expected to take approximately 10-12 years to complete. The development of the Knowledge Economic City has been projected to create more than 20,000 jobs and consist of a population of about 150,000 people.
“This exciting project in Saudi Arabia provides an excellent example of how AECOM is able to leverage our global expertise and presence to serve our clients," said Dionisio. “Saudi Arabia and Abu Dhabi are two strategically important regions for AECOM, and we are proud to play such vital roles in their further development.”
AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy. With more than 43,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world's built, natural and social environments. A Fortune 500 company, AECOM serves clients in more than 100 countries and had revenue of $5.9 billion during the 12-month period ended March 31, 2009. More information on AECOM and its services can be found at www.aecom.com.