Monday, Aecom Technology Corp. (ACM), a provider of technical and management support services, said its joint venture, known as THE Partnership, or THEP, has received a contract modification worth US$111 million for New Jersey Transit's multi-billion-dollar Trans-Hudson Express, or THE, Tunnel.
The project includes the construction of two new tracks in New Jersey's Meadowlands, two new single-track tunnels under the Hudson River and an expansion of Penn Station New York under 34th Street, including direct connections to city subways at 8th, 7th and 6th avenues, as well as Port Authority Trans Hudson, or PATH, trains. Various construction methods, including tunnel-boring machines, rock mining, sequential excavation, and cut-and-cover, will be employed to advance the project, the company said.
THEP, which consists of Aecom, Parsons Brinckerhoff, and STV, Inc., will complete final design and preparation of contract-bid packages for THE Tunnel. Parsons Brinckerhoff is a developer and operator of infrastructure, while STV provides engineering, architectural, planning, construction management and environmental services for transportation systems.
According to Aecom, the 3.5-mile tunnel will double commuter rail capacity between New York and New Jersey. The Port Authority of New York and New Jersey is a partner with NJ Transit for this project.
Aecom pointed out that additional capacity and a connection to New Jersey Transit's Main, Bergen County, Pascack Valley and Port Jervis lines will allow for transfer-free service to Penn Station New York. New train-storage facilities in Kearny, New Jersey is also included in the project.
John Dionisio, Aecom president and chief executive officer, stated, "AECOM is proud to play a key role in this important transportation infrastructure project, which will noticeably improve the availability of transportation between New York and New Jersey. Additionally, this effort will create and sustain jobs as it progresses."
ACM closed Friday's regular trading session at $30.67, down $0.42, on a volume of 388 thousand shares.
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